Massachusetts Financial Services Co. MA Has $259.82 Million Stake in Lear Co. (NYSE:LEA)

Massachusetts Financial Services Co. MA decreased its stake in shares of Lear Co. (NYSE:LEAFree Report) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,936,079 shares of the auto parts company’s stock after selling 27,711 shares during the period. Massachusetts Financial Services Co. MA owned 3.32% of Lear worth $259,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its holdings in Lear by 154.7% in the 2nd quarter. Covestor Ltd now owns 191 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 116 shares during the period. FNY Investment Advisers LLC bought a new stake in Lear in the 3rd quarter valued at about $26,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Lear by 65.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 220 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 87 shares during the period. Belpointe Asset Management LLC boosted its holdings in Lear by 90.8% in the 1st quarter. Belpointe Asset Management LLC now owns 290 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 138 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Lear in the 2nd quarter valued at about $52,000. Institutional investors own 97.04% of the company’s stock.

Insiders Place Their Bets

In other Lear news, CEO Raymond E. Scott sold 2,977 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $135.26, for a total transaction of $402,669.02. Following the sale, the chief executive officer now directly owns 2,976 shares of the company’s stock, valued at approximately $402,533.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Lear Price Performance

LEA stock opened at $134.29 on Tuesday. The company has a 50 day simple moving average of $135.69 and a 200 day simple moving average of $137.56. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.28 and a beta of 1.53. Lear Co. has a 1 year low of $117.79 and a 1 year high of $157.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.36 and a quick ratio of 1.04.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, December 5th. Lear’s payout ratio is 32.52%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LEA. JPMorgan Chase & Co. cut their price objective on shares of Lear from $195.00 to $179.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. UBS Group dropped their target price on shares of Lear from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, October 10th. Citigroup dropped their target price on shares of Lear from $158.00 to $152.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Barclays dropped their target price on shares of Lear from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Lear has a consensus rating of “Moderate Buy” and an average price target of $161.11.

Check Out Our Latest Stock Report on Lear

Lear Profile

(Free Report)

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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