Zurcher Kantonalbank Zurich Cantonalbank Sells 58,120 Shares of Lear Co. (NYSE:LEA)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Lear Co. (NYSE:LEA) by 82.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,012 shares of the auto parts company’s stock after selling 58,120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lear were worth $1,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd raised its stake in Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after buying an additional 252 shares during the period. Fifth Third Bancorp raised its stake in Lear by 21.0% in the 3rd quarter. Fifth Third Bancorp now owns 622 shares of the auto parts company’s stock valued at $83,000 after acquiring an additional 108 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Lear in the 3rd quarter valued at $111,000. Quent Capital LLC lifted its holdings in Lear by 41.3% during the 4th quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock valued at $123,000 after purchasing an additional 255 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its position in Lear by 4,831.6% during the third quarter. C M Bidwell & Associates Ltd. now owns 937 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 918 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

NYSE:LEA opened at $135.15 on Thursday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.33 and a beta of 1.54. Lear Co. has a fifty-two week low of $117.79 and a fifty-two week high of $157.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.35. The stock has a fifty day moving average price of $138.89 and a 200-day moving average price of $135.87.

Lear (NYSE:LEA) last posted its quarterly earnings data 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). Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 EPS. As a group, equities analysts anticipate that Lear Co. will post 14.49 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.28%. Lear’s dividend payout ratio (DPR) is currently 31.82%.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the sale, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Jason M. Cardew sold 2,750 shares of Lear stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the sale, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly 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 0.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on LEA shares. Wells Fargo & Company lifted their target price on shares of Lear from $130.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. StockNews.com downgraded Lear from a “buy” rating to a “hold” rating in a research report on Monday. Barclays lifted their price target on Lear from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley increased their price objective on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Lear currently has a consensus rating of “Moderate Buy” and an average price target of $162.44.

Lear Company Profile

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.