Redmond Asset Management LLC cut its holdings in shares of Lear Co. (NYSE:LEA) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,834 shares of the auto parts company’s stock after selling 165 shares during the period. Redmond Asset Management LLC’s holdings in Lear were worth $1,230,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LEA. Nissay Asset Management Corp Japan ADV raised its holdings in Lear by 1.0% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 7,260 shares of the auto parts company’s stock worth $985,000 after purchasing an additional 72 shares during the last quarter. World Asset Management Inc raised its holdings in Lear by 3.1% during the 2nd quarter. World Asset Management Inc now owns 3,037 shares of the auto parts company’s stock worth $423,000 after purchasing an additional 91 shares during the last quarter. Bessemer Group Inc. raised its holdings in Lear by 4.5% during the 2nd quarter. Bessemer Group Inc. now owns 2,195 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 94 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Lear by 3.6% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,730 shares of the auto parts company’s stock worth $506,000 after purchasing an additional 131 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Lear by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 16,172 shares of the auto parts company’s stock worth $2,252,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.
Several research analysts have issued reports on the stock. KeyCorp lowered their price target on shares of Lear from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, July 12th. They noted that the move was a valuation call. Buckingham Research lowered shares of Lear from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $180.00 to $140.00 in a report on Wednesday, July 17th. ValuEngine lowered shares of Lear from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 17th. Barclays restated a “hold” rating and set a $117.00 price target on shares of Lear in a report on Wednesday, July 31st. Finally, Credit Suisse Group lowered their price target on shares of Lear from $155.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $157.13.
Shares of NYSE:LEA traded down $2.29 during mid-day trading on Thursday, hitting $106.27. The company had a trading volume of 283,355 shares, compared to its average volume of 725,699. The company has a fifty day moving average of $128.98. The firm has a market capitalization of $6.60 billion, a P/E ratio of 5.83, a PEG ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.09. Lear Co. has a one year low of $108.14 and a one year high of $176.05.
Lear (NYSE:LEA) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $3.82 by ($0.04). The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. Lear had a net margin of 4.38% and a return on equity of 23.18%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.95 EPS. On average, equities research analysts predict that Lear Co. will post 15.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Thursday, August 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $3.00 annualized dividend and a dividend yield of 2.82%. Lear’s dividend payout ratio is currently 16.47%.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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