Teachers Retirement System of The State of Kentucky Reduces Holdings in Lear Co. (NYSE:LEA)

Teachers Retirement System of The State of Kentucky lowered its position in shares of Lear Co. (NYSE:LEAGet Rating) by 6.9% during the first quarter, HoldingsChannel reports. The firm owned 8,100 shares of the auto parts company’s stock after selling 600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lear were worth $1,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sandy Cove Advisors LLC bought a new stake in shares of Lear in the first quarter worth $29,000. Allworth Financial LP bought a new stake in shares of Lear in the first quarter worth $34,000. Signaturefd LLC increased its stake in shares of Lear by 81.1% in the first quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Lear in the fourth quarter worth $47,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Lear in the first quarter worth $55,000. Institutional investors own 99.56% of the company’s stock.

Lear Stock Performance

Shares of LEA opened at $127.36 on Friday. Lear Co. has a 1 year low of $118.38 and a 1 year high of $195.43. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 67.74, a price-to-earnings-growth ratio of 0.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.33. The firm has a fifty day moving average of $141.85 and a 200-day moving average of $136.30.

Lear (NYSE:LEAGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.45. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.01 billion. Lear had a net margin of 0.58% and a return on equity of 6.78%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 earnings per share. As a group, equities analysts anticipate that Lear Co. will post 8.63 earnings per share for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Thursday, September 1st were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, August 31st. Lear’s payout ratio is currently 163.83%.

Insiders Place Their Bets

In other Lear news, CEO Raymond E. Scott sold 6,143 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $127.83, for a total value of $785,259.69. Following the sale, the chief executive officer now directly owns 47,954 shares in the company, valued at $6,129,959.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 24,572 shares of company stock worth $3,375,947. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on LEA. Morgan Stanley lifted their price target on shares of Lear from $139.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lear from $153.00 to $157.00 in a report on Wednesday, August 3rd. Citigroup lifted their price objective on shares of Lear to $162.00 in a report on Tuesday, August 9th. Royal Bank of Canada lifted their price objective on shares of Lear from $144.00 to $158.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 3rd. Finally, Bank of America decreased their price objective on shares of Lear from $195.00 to $185.00 and set a “buy” rating for the company in a report on Friday, September 9th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Lear presently has a consensus rating of “Hold” and an average price target of $168.79.

Lear Profile

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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 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.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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