Wells Fargo & Company MN Sells 4,160 Shares of Lear Co. (NYSE:LEA)

Wells Fargo & Company MN cut its holdings in shares of Lear Co. (NYSE:LEAFree Report) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,050 shares of the auto parts company’s stock after selling 4,160 shares during the quarter. Wells Fargo & Company MN’s holdings in Lear were worth $7,068,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LEA. Signaturefd LLC lifted its holdings in shares of Lear by 32.3% during the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after buying an additional 91 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Lear during the fourth quarter worth approximately $56,000. Covestor Ltd lifted its holdings in shares of Lear by 131.9% during the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Lear by 21.4% in the fourth quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock valued at $107,000 after purchasing an additional 133 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of Lear by 41.3% in the fourth 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 in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Performance

Shares of NYSE:LEA opened at $122.39 on Friday. The business’s fifty day moving average price is $131.53 and its two-hundred day moving average price is $134.99. Lear Co. has a fifty-two week low of $120.40 and a fifty-two week high of $157.90. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04.

Lear (NYSE:LEAGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.78 earnings per share. As a group, analysts predict that Lear Co. will post 14.32 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s payout ratio is presently 33.59%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. 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 note on Wednesday, May 1st. Barclays cut their target price on Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Morgan Stanley upgraded Lear from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $160.00 in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upped their target price on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.44.

Read Our Latest Analysis on Lear

Insider Transactions at Lear

In other news, Director Greg C. Smith sold 2,392 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total value of $159,174.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Lear Company 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.

See Also

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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