Fmr LLC Sells 656,251 Shares of Lear Co. (NYSE:LEA)

Fmr LLC reduced its holdings in shares of Lear Co. (NYSE:LEA) by 21.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,456,951 shares of the auto parts company’s stock after selling 656,251 shares during the quarter. Fmr LLC’s holdings in Lear were worth $268,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Lear during the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 110 shares during the period. Blue Trust Inc. raised its position in Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after acquiring an additional 214 shares during the period. Signaturefd LLC boosted its stake in Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 139 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Lear during the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Stock Performance

NYSE LEA opened at $97.84 on Monday. The company’s 50 day simple moving average is $101.71 and its two-hundred day simple moving average is $111.53. The stock has a market capitalization of $5.32 billion, a PE ratio of 10.29, a P/E/G ratio of 0.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11.

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

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, December 11th. Lear’s dividend payout ratio is currently 32.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on LEA. Morgan Stanley dropped their price objective on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Bank of America cut their price target on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company reduced their target price on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Wolfe Research started coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Lear currently has an average rating of “Hold” and an average target price of $140.25.

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.