J.P. Morgan Private Wealth Advisors LLC Trims Stock Holdings in Lear Co. (NYSE:LEA)

J.P. Morgan Private Wealth Advisors LLC lowered its stake in Lear Co. (NYSE:LEAFree Report) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,372 shares of the auto parts company’s stock after selling 584 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Lear were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Lear by 2.7% in the first quarter. BlackRock Inc. now owns 8,792,397 shares of the auto parts company’s stock worth $1,226,452,000 after buying an additional 227,230 shares during the period. Vanguard Group Inc. raised its stake in shares of Lear by 0.4% in the third quarter. Vanguard Group Inc. now owns 5,645,810 shares of the auto parts company’s stock worth $675,747,000 after buying an additional 20,874 shares during the period. Capital International Investors raised its stake in shares of Lear by 47.9% in the first quarter. Capital International Investors now owns 3,064,807 shares of the auto parts company’s stock worth $437,259,000 after buying an additional 993,216 shares during the period. State Street Corp raised its stake in shares of Lear by 0.5% in the first quarter. State Street Corp now owns 2,463,244 shares of the auto parts company’s stock worth $351,234,000 after buying an additional 12,072 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in Lear by 44.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,049,053 shares of the auto parts company’s stock valued at $294,142,000 after purchasing an additional 630,677 shares during the period. Institutional investors own 97.04% of the company’s stock.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares in the company, valued at approximately $1,810,483.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Raymond E. Scott sold 2,977 shares of Lear stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $135.26, for a total value of $402,669.02. Following the completion of the transaction, the chief executive officer now owns 2,976 shares in the company, valued at approximately $402,533.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Lear Stock Performance

NYSE LEA opened at $134.74 on Friday. The stock has a market capitalization of $7.85 billion, a PE ratio of 13.92, a P/E/G ratio of 0.27 and a beta of 1.53. The business has a 50 day simple moving average of $135.65 and a two-hundred day simple moving average of $137.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. Lear Co. has a 1-year low of $117.79 and a 1-year high of $157.90.

Lear (NYSE:LEAGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.81 EPS. On average, research analysts predict that Lear Co. will post 15.75 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Wednesday, December 6th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Tuesday, December 5th. Lear’s dividend payout ratio (DPR) is 31.82%.

Analysts Set New Price Targets

Several analysts recently issued reports on LEA shares. StockNews.com downgraded Lear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Barclays decreased their target price on Lear from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on Lear from $195.00 to $179.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Benchmark lifted their target price on Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, Wells Fargo & Company lifted their target price on Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.22.

Check Out Our Latest Stock Report on Lear

About Lear

(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.

Read More

Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Co. (NYSE:LEAFree Report).

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.