Tiverton Asset Management LLC trimmed its stake in Lear Co. (NYSE:LEA) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,346 shares of the auto parts company’s stock after selling 328 shares during the period. Tiverton Asset Management LLC’s holdings in Lear were worth $326,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Oakworth Capital Inc. bought a new position in Lear during the second quarter valued at about $26,000. Meridian Wealth Management LLC acquired a new stake in shares of Lear in the first quarter valued at $28,000. NEXT Financial Group Inc raised its holdings in shares of Lear by 64.8% in the second quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock valued at $59,000 after buying an additional 166 shares during the last quarter. Clear Perspective Advisors LLC acquired a new position in Lear during the 2nd quarter worth about $75,000. Finally, Private Ocean LLC bought a new stake in Lear during the 2nd quarter worth about $77,000. Institutional investors own 89.93% of the company’s stock.
LEA has been the subject of several research reports. TheStreet cut shares of Lear from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Morgan Stanley reduced their target price on shares of Lear from $165.00 to $143.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada cut shares of Lear from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $135.00 in a research note on Wednesday, July 17th. Buckingham Research lowered shares of Lear from a “buy” rating to a “neutral” rating and lowered their price target for the company from $180.00 to $140.00 in a report on Wednesday, July 17th. Finally, Credit Suisse Group dropped their price objective on shares of Lear from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $157.13.
Shares of LEA stock traded down $3.08 during trading hours on Wednesday, reaching $126.01. The company had a trading volume of 14,393 shares, compared to its average volume of 539,363. The company has a 50 day moving average of $116.80 and a 200 day moving average of $134.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.09. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 3.31 and a beta of 1.51. Lear Co. has a 1-year low of $105.10 and a 1-year high of $167.86.
Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, July 26th. The auto parts company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $4.95 earnings per share. As a group, sell-side analysts forecast that Lear Co. will post 14.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, August 28th. Lear’s dividend payout ratio (DPR) is currently 16.47%.
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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