CIBC Asset Management Inc Trims Stake in Lear Co. (NYSE:LEA)

CIBC Asset Management Inc lessened its stake in Lear Co. (NYSE:LEAFree Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,008 shares of the auto parts company’s stock after selling 144 shares during the period. CIBC Asset Management Inc’s holdings in Lear were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LEA. Signaturefd LLC lifted its stake in shares of Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares during the period. Fifth Third Bancorp boosted its stake in shares of Lear by 21.4% during the 4th quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 133 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Lear by 0.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 14,584 shares of the auto parts company’s stock worth $2,046,000 after acquiring an additional 136 shares in the last quarter. Stifel Financial Corp grew its position in shares of Lear by 0.4% during the 4th quarter. Stifel Financial Corp now owns 41,432 shares of the auto parts company’s stock valued at $5,851,000 after acquiring an additional 150 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Lear by 14.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,536 shares of the auto parts company’s stock valued at $217,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on LEA. UBS Group dropped their price objective on Lear from $146.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Citigroup dropped their price target on shares of Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $150.00 to $160.00 in a report on Friday, May 10th. Finally, StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Lear presently has a consensus rating of “Moderate Buy” and an average price target of $161.44.

Get Our Latest Research Report on Lear

Lear Trading Down 0.5 %

Shares of LEA stock opened at $122.74 on Tuesday. Lear Co. has a fifty-two week low of $120.40 and a fifty-two week high of $157.90. The firm has a market capitalization of $6.97 billion, a P/E ratio of 13.38, a PEG ratio of 0.32 and a beta of 1.51. The stock’s fifty day moving average is $130.66 and its two-hundred day moving average is $134.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33.

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

Lear Dividend Announcement

The business 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 2.51%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s dividend payout ratio is currently 33.59%.

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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