First Trust Advisors LP Decreases Stake in Lear Co. (LEA)

First Trust Advisors LP cut its stake in Lear Co. (NYSE:LEA) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,460 shares of the auto parts company’s stock after selling 14,297 shares during the period. First Trust Advisors LP owned 0.27% of Lear worth $26,399,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Lear during the fourth quarter worth approximately $382,211,000. AQR Capital Management LLC increased its position in shares of Lear by 1.7% in the fourth quarter. AQR Capital Management LLC now owns 2,554,473 shares of the auto parts company’s stock worth $338,136,000 after buying an additional 42,954 shares during the last quarter. Bank of Montreal Can increased its position in shares of Lear by 7.2% in the first quarter. Bank of Montreal Can now owns 2,130,459 shares of the auto parts company’s stock worth $301,630,000 after buying an additional 142,894 shares during the last quarter. Numeric Investors LLC increased its position in shares of Lear by 32.9% in the fourth quarter. Numeric Investors LLC now owns 1,004,484 shares of the auto parts company’s stock worth $132,964,000 after buying an additional 248,484 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lear by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 797,409 shares of the auto parts company’s stock worth $105,558,000 after buying an additional 35,552 shares during the last quarter. Hedge funds and other institutional investors own 97.32% of the company’s stock.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Lear Co. (NYSE:LEA) traded up 1.0498% on Friday, reaching $143.4099. 569,749 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $139.22 and a 200-day moving average price of $137.27. The company has a market capitalization of $9.88 billion, a PE ratio of 9.9791 and a beta of 1.27. Lear Co. has a 1-year low of $97.35 and a 1-year high of $149.00.

Lear (NYSE:LEA) last released its quarterly earnings results on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.32. Lear had a return on equity of 32.21% and a net margin of 5.25%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the prior year, the business posted $3.40 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Lear Co. will post $16.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Friday, June 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. Lear’s payout ratio is 9.00%.

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Several research firms have weighed in on LEA. Zacks Investment Research downgraded shares of Lear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Barclays PLC restated an “equal weight” rating and set a $134.00 price objective (down from $138.00) on shares of Lear in a research note on Saturday, April 22nd. Morgan Stanley cut shares of Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 price objective for the company. in a research note on Tuesday, February 21st. They noted that the move was a valuation call. Royal Bank of Canada set a $157.00 target price on shares of Lear and gave the company a “hold” rating in a research note on Thursday, January 26th. Finally, Berenberg Bank started coverage on shares of Lear in a research note on Friday, March 31st. They issued a “buy” rating and a $175.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $144.75.

In other news, Director Thomas P. Capo sold 1,500 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the completion of the sale, the director now directly owns 345 shares of the company’s stock, valued at $50,476.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mel Stephens sold 21,132 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $144.55, for a total value of $3,054,630.60. Following the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $5,782,000. The disclosure for this sale can be found here. In the last three months, insiders sold 22,667 shares of company stock valued at $3,279,058. Company insiders own 0.33% of the company’s stock.

About Lear

Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.

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