PNC Financial Services Group Inc. Has $151,000 Stake in Lear Co. (NYSE:LEA)

PNC Financial Services Group Inc. cut its stake in Lear Co. (NYSE:LEA) by 53.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,590 shares of the auto parts company’s stock after selling 1,860 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lear were worth $151,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 187 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Lear in the 3rd quarter valued at approximately $34,000. Addison Advisors LLC lifted its stake in Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. boosted its position in Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 287 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Lear during the 3rd quarter worth approximately $50,000. Institutional investors own 97.04% of the company’s stock.

Lear Price Performance

Shares of NYSE LEA opened at $96.72 on Tuesday. Lear Co. has a twelve month low of $86.28 and a twelve month high of $147.11. The company has a market cap of $5.19 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The business’s 50 day moving average price is $95.50 and its two-hundred day moving average price is $98.69. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, analysts predict that Lear Co. will post 12.89 EPS for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, March 6th. Lear’s dividend payout ratio is presently 34.45%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Cowen downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. TD Cowen downgraded Lear from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, March 7th. Finally, Barclays reduced their price target on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.36.

Insider Buying and Selling

In other news, Director Rod Lache purchased 2,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $91.80 per share, with a total value of $199,940.40. Following the acquisition, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.

Lear 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.