Riverhead Capital Management LLC reduced its position in shares of Lear Co. (NYSE:LEA) by 14.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,950 shares of the auto parts company’s stock after selling 5,600 shares during the period. Riverhead Capital Management LLC’s holdings in Lear were worth $4,472,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in LEA. Pinnacle Bank purchased a new stake in shares of Lear during the fourth quarter valued at approximately $31,000. Oregon Public Employees Retirement Fund raised its stake in shares of Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 4,854,451 shares during the period. Rational Advisors LLC acquired a new stake in shares of Lear during the fourth quarter worth approximately $49,000. Quadrant Capital Group LLC grew its position in shares of Lear by 78.2% during the first quarter. Quadrant Capital Group LLC now owns 531 shares of the auto parts company’s stock worth $69,000 after buying an additional 233 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Lear by 25.1% during the fourth quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after buying an additional 176 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on LEA shares. Deutsche Bank downgraded shares of Lear from a “buy” rating to a “hold” rating and decreased their price target for the stock from $162.00 to $159.00 in a research report on Tuesday, March 19th. Longbow Research reissued a “buy” rating and set a $190.00 price target on shares of Lear in a research report on Wednesday, March 6th. ValuEngine downgraded shares of Lear from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Argus started coverage on shares of Lear in a research report on Thursday, March 28th. They set a “hold” rating for the company. Finally, KeyCorp decreased their price target on shares of Lear from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Lear presently has a consensus rating of “Buy” and a consensus price target of $175.07.
Lear (NYSE:LEA) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.25 billion. Lear had a return on equity of 25.28% and a net margin of 4.94%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.10 EPS. Equities research analysts anticipate that Lear Co. will post 17.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, June 6th. Lear’s dividend payout ratio is presently 16.47%.
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Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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