Goldman Sachs Group Inc. lessened its position in shares of Lear Co. (NYSE: LEA – Get Rating) by 26.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,243 shares of the auto parts company stock after selling 67,310 shares during the period. Goldman Sachs Group Inc. owned about 0.31% of Lear worth $ 34,073,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WINTON GROUP Ltd grew its holdings in Lear by 90.0% during the 4th quarter. WINTON GROUP Ltd now owns 3,048 shares of the auto parts company stock worth $ 558,000 after acquiring an additional 1,444 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Lear during the 4th quarter worth approximately $ 210,000. State of Michigan Retirement System grew its holdings in Lear by 22.8% during the 4th quarter. State of Michigan Retirement System now owns 21,178 shares of the auto parts company stock worth $ 3,875,000 after acquiring an additional 3,938 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Lear by 9.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,886 shares of the auto parts company stock worth $ 9,055,000 after acquiring an additional 4,052 shares in the last quarter. Finally, American International Group Inc. grew its holdings in Lear by 5.8% during the 3rd quarter. American International Group Inc. now owns 102,891 shares of the auto parts company stock worth $ 16,100,000 after acquiring an additional 5,609 shares in the last quarter. Institutional investors own 95.46% of the company stock.
Shares of Lear stock opened at $ 133.66 on Friday. The company has a market cap of $ 7.99 billion, a P / E ratio of 36.82, a PEG ratio of 0.44 and a beta of 1.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.36. Lear Co. has a one year low of $ 122.67 and a one year high of $ 195.43. The firm has a fifty day moving average of $ 132.49 and a two-hundred day moving average of $ 155.19.
Lear (NYSE: LEA – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $ 1.80 EPS for the quarter, topping analysts’ consensus estimates of $ 1.56 by $ 0.24. The company had revenue of $ 5.20 billion during the quarter, compared to the estimate consensus of $ 5.02 billion. Lear had a net margin of 1.15% and a return on equity of 7.51%. Lear’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $ 3.73 EPS. As a group, equities analysts predict that Lear Co. will post 8.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Friday, June 10th will be given a dividend of $ 0.77 per share. The ex-dividend date is Thursday, June 9th. This represents a $ 3.08 dividend on an annualized basis and a yield of 2.30%. Lear’s payout ratio is currently 84.85%.
Several brokerages have recently issued reports on LEA. Wells Fargo & Company upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $ 141.00 to $ 180.00 in a report on Tuesday. They noted that the move was a valuation call. StockNews.com began coverage on shares of Lear in a report on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America upgraded shares of Lear from an “underperform” rating to a “buy” rating and upped their target price for the company from $ 150.00 to $ 195.00 in a report on Wednesday, April 6th. The Goldman Sachs Group lowered their target price on shares of Lear from $ 163.00 to $ 158.00 in a report on Wednesday, June 1st. Finally, Citigroup lowered their target price on shares of Lear from $ 177.00 to $ 154.00 in a report on Tuesday, April 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $ 169.64.
In other news, CEO Raymond E. Scott sold 4,000 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $ 131.38, for a total value of $ 525,520.00. Following the completion of the transaction, the chief executive officer now owns 60,240 shares in the company, valued at approximately $ 7,914,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alicia J. Davis sold 2,659 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $ 135.14, for a total transaction of $ 359,337.26. Following the completion of the transaction, the senior vice president now owns 1,949 shares of the company stock, valued at approximately $ 263,387.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,954 shares of company stock valued at $ 1,183,114. 0.67% of the stock is owned by insiders.
About Lear: (Get Rating)
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks , and sport utility vehicles.
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