Point72 Hong Kong Ltd Decreases Stake in Lear Co. (NYSE:LEA)

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Point72 Hong Kong Ltd cut its stake in shares of Lear Co. (NYSE:LEA) by 52.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,619 shares of the auto parts company’s stock after selling 1,778 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Lear were worth $222,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Lear by 19.3% in the fourth quarter. AQR Capital Management LLC now owns 1,080,947 shares of the auto parts company’s stock valued at $148,306,000 after purchasing an additional 174,751 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Lear in the 4th quarter valued at about $839,000. Ancora Advisors LLC acquired a new position in shares of Lear during the 4th quarter valued at about $56,000. Ellington Management Group LLC acquired a new position in shares of Lear during the 4th quarter valued at about $480,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Lear by 7.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 240,038 shares of the auto parts company’s stock valued at $32,933,000 after acquiring an additional 15,933 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Bank of America raised shares of Lear from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 18th. KeyCorp decreased their price target on shares of Lear from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays reissued a “hold” rating and set a $136.00 price objective on shares of Lear in a research note on Wednesday, January 22nd. TheStreet downgraded Lear from a “b-” rating to a “c” rating in a report on Friday, February 28th. Finally, Deutsche Bank cut their target price on Lear from $136.00 to $134.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Lear has a consensus rating of “Hold” and an average target price of $132.00.

Shares of NYSE:LEA traded up $5.43 during mid-day trading on Thursday, hitting $95.85. 752,040 shares of the company traded hands, compared to its average volume of 757,201. The firm has a market cap of $5.32 billion, a P/E ratio of 7.53 and a beta of 1.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.37. Lear Co. has a 52-week low of $63.20 and a 52-week high of $159.14. The firm’s 50 day simple moving average is $106.64 and its 200 day simple moving average is $121.19.

Lear (NYSE:LEA) last issued its quarterly earnings data on Tuesday, January 28th. The auto parts company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.64. Lear had a net margin of 3.80% and a return on equity of 19.61%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the business posted $4.05 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Lear Co. will post 12.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Friday, February 28th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Lear’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 27th. Lear’s payout ratio is 22.02%.

Lear Company Profile

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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