Fifth Third Bancorp Acquires 435 Shares of Lear Corporation (NYSE:LEA)

Fifth Third Bancorp raised its holdings in shares of Lear Corporation (NYSE:LEA) by 131.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 765 shares of the auto parts company’s stock after purchasing an additional 435 shares during the quarter. Fifth Third Bancorp’s holdings in Lear were worth $67,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEA. Addison Advisors LLC boosted its holdings in Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 137 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 166 shares during the last quarter. Wellington Management Group LLP boosted 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. Sanctuary Advisors LLC boosted its holdings in shares of Lear by 12.1% in the 4th quarter. Sanctuary Advisors LLC now owns 2,301 shares of the auto parts company’s stock worth $223,000 after buying an additional 249 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Lear by 9.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,221 shares of the auto parts company’s stock worth $305,000 after buying an additional 282 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Buying and Selling

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $92.86, for a total transaction of $110,224.82. Following the transaction, the director now directly owns 84 shares in the company, valued at $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.91% of the stock is owned by company insiders.

Lear Price Performance

NYSE LEA opened at $90.94 on Friday. The firm’s 50-day simple moving average is $88.42 and its two-hundred day simple moving average is $91.88. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $126.85. The company has a market cap of $4.86 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.51 and a beta of 1.29. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA) last announced its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.48. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Lear had a net margin of 2.09% and a return on equity of 14.53%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.18 earnings per share. Research analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, June 5th. Lear’s dividend payout ratio (DPR) is 36.11%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LEA shares. JPMorgan Chase & Co. boosted their price target on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. TD Cowen downgraded shares of Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a report on Friday, March 7th. Morgan Stanley cut their price target on shares of Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Barclays downgraded shares of Lear from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. Finally, UBS Group boosted their price target on shares of Lear from $83.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.