CX Institutional Buys Shares of 803 Lear Co. (NYSE:LEA)

CX Institutional purchased a new position in shares of Lear Co. (NYSE:LEA) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 803 shares of the auto parts company’s stock, valued at approximately $71,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Lear by 57.9% in the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 344 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Lear by 34.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 39,622 shares of the auto parts company’s stock valued at $3,495,000 after buying an additional 10,249 shares during the last quarter. Perennial Advisors LLC raised its holdings in Lear by 7.3% in the 1st quarter. Perennial Advisors LLC now owns 34,006 shares of the auto parts company’s stock valued at $3,000,000 after buying an additional 2,306 shares during the last quarter. Rhumbline Advisers boosted its position in Lear by 0.6% during the 1st quarter. Rhumbline Advisers now owns 153,953 shares of the auto parts company’s stock worth $13,582,000 after buying an additional 843 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Lear by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company’s stock worth $351,000 after acquiring an additional 183 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Lear Price Performance

Shares of NYSE:LEA opened at $92.54 on Tuesday. The business has a fifty day moving average price of $87.52 and a 200-day moving average price of $92.01. Lear Co. has a 1-year low of $73.85 and a 1-year high of $126.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. The company has a market capitalization of $4.95 billion, a PE ratio of 10.35, a PEG ratio of 0.49 and a beta of 1.29.

Lear (NYSE:LEA) last issued its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.64 by $0.48. Lear had a return on equity of 14.70% and a net margin of 2.17%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $3.18 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, June 5th. Lear’s payout ratio is presently 36.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LEA shares. Barclays lowered Lear from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on Lear from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Citigroup initiated coverage on Lear in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $123.00 target price on the stock. Morgan Stanley decreased their price objective on Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Cowen cut shares of Lear from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.09.

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.