Dana Investment Advisors Inc. Trims Stock Holdings in Lear Co. (NYSE:LEA)

Dana Investment Advisors Inc. lowered its position in Lear Co. (NYSE:LEA) by 2.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 15,913 shares of the auto parts company’s stock after selling 400 shares during the period. Dana Investment Advisors Inc.’s holdings in Lear were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LEA. Parallel Advisors LLC raised its position in Lear by 60.3% in the fourth quarter. Parallel Advisors LLC now owns 877 shares of the auto parts company’s stock worth $124,000 after acquiring an additional 330 shares in the last quarter. Stifel Financial Corp raised its position in Lear by 0.4% in the fourth quarter. Stifel Financial Corp now owns 41,432 shares of the auto parts company’s stock worth $5,851,000 after acquiring an additional 150 shares in the last quarter. Bank of Nova Scotia purchased a new position in Lear in the fourth quarter worth $400,000. Royal London Asset Management Ltd. raised its position in Lear by 3.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 25,225 shares of the auto parts company’s stock worth $3,562,000 after acquiring an additional 853 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Lear by 9.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,390 shares of the auto parts company’s stock worth $1,325,000 after acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LEA. Barclays cut their price objective on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Citigroup lowered their target price on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Evercore ISI lowered their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Morgan Stanley lowered their target price on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com raised Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.91.

Lear Stock Up 0.1 %

LEA opened at $108.22 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The firm has a market cap of $6.15 billion, a P/E ratio of 11.80, a PEG ratio of 0.43 and a beta of 1.44. Lear Co. has a 52 week low of $101.67 and a 52 week high of $147.11. The business’s fifty day simple moving average is $112.13 and its 200 day simple moving average is $122.12.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $3.33 earnings per share. As a group, equities research analysts anticipate that Lear Co. will post 12.66 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 annualized dividend and a yield of 2.85%. Lear’s dividend payout ratio (DPR) is presently 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.