QRG Capital Management Inc. Sells 787 Shares of Lear Co. (NYSE:LEA)

QRG Capital Management Inc. reduced its stake in shares of Lear Co. (NYSE:LEA) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,711 shares of the auto parts company’s stock after selling 787 shares during the quarter. QRG Capital Management Inc.’s holdings in Lear were worth $732,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Swedbank AB bought a new stake in shares of Lear during the first quarter valued at approximately $1,984,000. Russell Investments Group Ltd. grew its stake in shares of Lear by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 307,383 shares of the auto parts company’s stock valued at $44,534,000 after purchasing an additional 5,584 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Lear by 35.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock valued at $7,953,000 after purchasing an additional 14,305 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Lear during the second quarter valued at approximately $530,000. Finally, Shell Asset Management Co. grew its stake in shares of Lear by 73.6% during the first quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock valued at $1,703,000 after purchasing an additional 4,984 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Trading Down 0.7 %

LEA opened at $96.31 on Friday. Lear Co. has a twelve month low of $94.29 and a twelve month high of $147.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The firm’s fifty day moving average is $105.34 and its two-hundred day moving average is $115.06. The firm has a market cap of $5.23 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.46.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business posted $2.87 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts anticipate that Lear Co. will post 12.15 EPS for the current year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.20%. Lear’s payout ratio is 32.39%.

Analyst Upgrades and Downgrades

LEA has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Wells Fargo & Company reduced their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Wolfe Research initiated coverage on shares of Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, TD Cowen reduced their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.08.

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.