Pictet Asset Management SA Acquires 3,660 Shares of Lear Co. (NYSE:LEA)

Pictet Asset Management SA boosted its holdings in Lear Co. (NYSE:LEAGet Rating) by 17.9% during the second quarter, Holdings Channel reports. The fund owned 24,156 shares of the auto parts company’s stock after purchasing an additional 3,660 shares during the period. Pictet Asset Management SA’s holdings in Lear were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Lear by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 16,663 shares of the auto parts company’s stock valued at $2,098,000 after acquiring an additional 68 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Lear by 0.9% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,005 shares of the auto parts company’s stock valued at $1,260,000 after acquiring an additional 89 shares during the period. Fifth Third Bancorp increased its position in Lear by 25.3% during the 2nd quarter. Fifth Third Bancorp now owns 486 shares of the auto parts company’s stock worth $61,000 after buying an additional 98 shares during the period. Level Four Advisory Services LLC increased its position in Lear by 2.3% during the 1st quarter. Level Four Advisory Services LLC now owns 4,497 shares of the auto parts company’s stock worth $641,000 after buying an additional 99 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Lear by 2.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the auto parts company’s stock worth $668,000 after buying an additional 100 shares during the period. Institutional investors own 99.56% of the company’s stock.

Insider Activity at Lear

In related news, EVP Frank C. Orsini sold 19,501 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $150.13, for a total value of $2,927,685.13. Following the sale, the executive vice president now directly owns 11,842 shares of the company’s stock, valued at $1,777,839.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Frank C. Orsini sold 19,501 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $150.13, for a total value of $2,927,685.13. Following the sale, the executive vice president now directly owns 11,842 shares of the company’s stock, valued at $1,777,839.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Raymond E. Scott sold 6,143 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $125.31, for a total value of $769,779.33. Following the completion of the sale, the chief executive officer now directly owns 29,525 shares in the company, valued at $3,699,777.75. The disclosure for this sale can be found here. Insiders have sold 41,614 shares of company stock valued at $5,971,177 over the last ninety days. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LEA has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Lear from $140.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 2nd. Bank of America lowered their price objective on Lear from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Royal Bank of Canada lowered their price objective on Lear from $142.00 to $137.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Lear from $155.00 to $138.00 in a research report on Wednesday, November 2nd. Finally, The Goldman Sachs Group raised their price target on Lear from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Lear presently has an average rating of “Hold” and an average target price of $157.54.

Lear Stock Up 2.0 %

Shares of NYSE LEA opened at $145.64 on Monday. The stock’s fifty day moving average is $132.31 and its 200 day moving average is $135.05. The stock has a market capitalization of $8.61 billion, a P/E ratio of 37.73, a PEG ratio of 0.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.33. Lear Co. has a 52 week low of $114.67 and a 52 week high of $195.43.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 27th. Investors of record on Wednesday, December 7th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.11%. The ex-dividend date is Tuesday, December 6th. Lear’s dividend payout ratio (DPR) is presently 79.79%.

Lear Company 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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