New York Life Investment Management LLC Lowers Holdings in Lear Co. (NYSE:LEA)

New York Life Investment Management LLC trimmed its position in Lear Co. (NYSE:LEA) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,204 shares of the auto parts company’s stock after selling 85 shares during the quarter. New York Life Investment Management LLC’s holdings in Lear were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LEA. Invesco Ltd. lifted its holdings in shares of Lear by 236.2% in the 3rd quarter. Invesco Ltd. now owns 577,690 shares of the auto parts company’s stock worth $77,526,000 after buying an additional 405,875 shares during the period. FMR LLC raised its position in shares of Lear by 17.9% in the 3rd quarter. FMR LLC now owns 1,896,871 shares of the auto parts company’s stock worth $254,560,000 after acquiring an additional 287,483 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Lear by 643.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 243,007 shares of the auto parts company’s stock worth $32,612,000 after acquiring an additional 210,333 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Lear by 20.1% in the 3rd quarter. Nordea Investment Management AB now owns 1,087,058 shares of the auto parts company’s stock worth $146,057,000 after acquiring an additional 182,241 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in shares of Lear in the 3rd quarter worth $17,358,000. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on LEA shares. JPMorgan Chase & Co. boosted their price target on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Morgan Stanley upped their target price on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Citigroup reduced their target price on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Barclays reduced their target price on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their target price on Lear from $134.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Lear Stock Up 0.9 %

Lear stock opened at $129.14 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. The business’s 50-day simple moving average is $137.63 and its two-hundred day simple moving average is $135.49. The company has a market cap of $7.33 billion, a PE ratio of 14.08, a PEG ratio of 0.31 and a beta of 1.55. Lear Co. has a fifty-two week low of $120.48 and a fifty-two week high of $157.90.

Lear (NYSE:LEA) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.14. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 EPS. Equities analysts anticipate that Lear Co. will post 14.47 EPS for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.39%. Lear’s payout ratio is 33.59%.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason M. Cardew sold 2,750 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Lear 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.