BlackRock Inc. lowered its stake in shares of Lear Co. (NYSE:LEA) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,510,215 shares of the auto parts company’s stock after selling 111,103 shares during the quarter. BlackRock Inc. owned about 12.60% of Lear worth $1,175,198,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LEA. HighTower Advisors LLC increased its stake in shares of Lear by 12.8% during the 2nd quarter. HighTower Advisors LLC now owns 2,403 shares of the auto parts company’s stock valued at $422,000 after acquiring an additional 273 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Lear by 18.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,104 shares of the auto parts company’s stock valued at $1,946,000 after acquiring an additional 1,763 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Lear by 32.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,220 shares of the auto parts company’s stock valued at $213,000 after acquiring an additional 301 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Lear by 53.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 45,424 shares of the auto parts company’s stock valued at $7,962,000 after acquiring an additional 15,754 shares during the last quarter. Finally, Ethic Inc. increased its stake in shares of Lear by 96.0% during the 2nd quarter. Ethic Inc. now owns 3,166 shares of the auto parts company’s stock valued at $555,000 after acquiring an additional 1,551 shares during the last quarter. 95.47% of the stock is owned by institutional investors.
Lear stock opened at $191.05 on Friday. The stock has a market cap of $11.39 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 0.30 and a beta of 1.53. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $181.06 and a 200-day moving average of $171.14. Lear Co. has a 52 week low of $144.77 and a 52 week high of $204.91.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Stockholders of record on Friday, December 10th were paid a dividend of $0.77 per share. This is a boost from Lear’s previous quarterly dividend of $0.50. This represents a $3.08 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, December 9th. Lear’s dividend payout ratio is 33.70%.
A number of analysts recently issued reports on LEA shares. Morgan Stanley dropped their target price on shares of Lear from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, December 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lear from $177.00 to $204.00 in a research report on Thursday. Wells Fargo & Company downgraded shares of Lear from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $191.00 to $195.00 in a research report on Thursday, December 16th. Zacks Investment Research raised shares of Lear from a “strong sell” rating to a “hold” rating and set a $177.00 target price for the company in a research report on Tuesday, November 30th. Finally, Jefferies Financial Group downgraded shares of Lear from a “buy” rating to a “hold” rating and dropped their target price for the stock from $200.00 to $171.00 in a research report on Monday, September 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Lear presently has an average rating of “Hold” and a consensus price target of $192.93.
In other news, VP Marianne Vidershain sold 170 shares of the stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $179.01, for a total transaction of $30,431.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.43% of the company’s stock.
Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.
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