Raymond James & Associates Has $11.10 Million Holdings in Lear Co. (NYSE:LEA)

Raymond James & Associates trimmed its stake in shares of Lear Co. (NYSE:LEA) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,196 shares of the auto parts company’s stock after selling 1,269 shares during the period. Raymond James & Associates’ holdings in Lear were worth $11,101,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Lear during the 1st quarter worth about $29,000. Riverview Trust Co acquired a new stake in Lear in the 1st quarter valued at approximately $32,000. Signaturefd LLC lifted its stake in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC bought a new stake in Lear in the 4th quarter valued at approximately $56,000. Finally, Central Pacific Bank Trust Division acquired a new position in Lear during the 1st quarter worth approximately $62,000. 97.04% of the stock is owned by institutional investors.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total transaction of $159,174.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

LEA has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on shares of Lear from $132.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. UBS Group reduced their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America lowered their target price on Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Barclays lowered their price target on Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.56.

Lear Stock Up 2.3 %

LEA stock opened at $116.77 on Friday. Lear Co. has a 1-year low of $107.25 and a 1-year high of $147.57. The business’s 50 day simple moving average is $115.65 and its 200 day simple moving average is $127.46. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $6.63 billion, a PE ratio of 12.73, a PEG ratio of 0.36 and a beta of 1.47.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.34 by $0.26. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $3.33 earnings per share. As a group, research analysts anticipate that Lear Co. will post 13.13 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be issued a $0.77 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.08 annualized dividend and a yield of 2.64%. Lear’s dividend payout ratio is currently 33.59%.

About Lear

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.