Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Lear Co. (NYSE:LEA)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Lear Co. (NYSE:LEA) by 82.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Advisor Partners II LLC raised its position in Lear by 5.0% during the third quarter. Advisor Partners II LLC now owns 1,921 shares of the auto parts company’s stock valued at $258,000 after purchasing an additional 91 shares in the last quarter. CIBC Asset Management Inc lifted its position in Lear by 4.5% in the 3rd quarter. CIBC Asset Management Inc now owns 2,152 shares of the auto parts company’s stock worth $289,000 after buying an additional 93 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Lear by 4.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,975 shares of the auto parts company’s stock worth $265,000 after buying an additional 93 shares in the last quarter. Inspire Investing LLC grew its position in Lear by 4.6% during the third quarter. Inspire Investing LLC now owns 2,282 shares of the auto parts company’s stock valued at $306,000 after acquiring an additional 101 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Lear by 21.0% during the third 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 last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Price Performance

NYSE LEA opened at $135.15 on Thursday. The stock has a market capitalization 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 1-year low of $117.79 and a 1-year high of $157.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. The business’s fifty day moving average price is $138.89 and its 200-day moving average price is $135.87.

Lear (NYSE:LEA) last announced its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $5.69 billion. During the same period in the previous year, the business posted $2.81 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts predict that Lear Co. will post 14.49 earnings per share for the current year.

Lear Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Benchmark lifted their price objective on Lear from $188.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Barclays upped their target price on shares of Lear from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.44.

Insiders Place Their Bets

In other news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction on Tuesday, March 5th. The shares were 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 directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Raymond E. Scott sold 10,652 shares of the business’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 directly owns 13,627 shares in the company, valued at $1,810,483.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares of the company’s stock, valued at $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.