Commerce Bank Decreases Stake in Lear Co. (NYSE:LEA)

Commerce Bank reduced its holdings in Lear Co. (NYSE:LEA) by 50.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,926 shares of the auto parts company’s stock after selling 1,943 shares during the period. Commerce Bank’s holdings in Lear were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Lear during the third quarter worth about $362,000. Thrivent Financial for Lutherans increased its position in shares of Lear by 5.9% during the third quarter. Thrivent Financial for Lutherans now owns 203,348 shares of the auto parts company’s stock valued at $22,195,000 after acquiring an additional 11,264 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Lear by 24.1% during the third quarter. Natixis Advisors LLC now owns 45,998 shares of the auto parts company’s stock valued at $5,021,000 after acquiring an additional 8,937 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Lear by 39.9% during the third quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock valued at $2,316,000 after acquiring an additional 6,055 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Lear during the third quarter valued at about $613,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEA has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. TD Cowen dropped their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.25.

Lear Stock Up 0.5 %

Shares of NYSE:LEA opened at $97.25 on Thursday. The company has a market capitalization of $5.28 billion, a PE ratio of 10.20, a P/E/G ratio of 0.60 and a beta of 1.46. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear Co. has a twelve month low of $92.14 and a twelve month high of $147.11. The firm has a 50 day simple moving average of $102.37 and a 200-day simple moving average of $112.12.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the firm earned $2.87 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. On average, equities analysts predict that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be given a $0.77 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.17%. Lear’s dividend payout ratio (DPR) is 32.39%.

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 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.