First Trust Advisors LP Has $30.05 Million Stock Holdings in Lear Corporation $LEA

First Trust Advisors LP decreased its position in Lear Corporation (NYSE:LEA) by 34.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 316,348 shares of the auto parts company’s stock after selling 166,711 shares during the period. First Trust Advisors LP owned 0.59% of Lear worth $30,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Lear during the 1st quarter valued at $1,463,000. Dynamic Technology Lab Private Ltd bought a new stake in Lear in the first quarter valued at about $725,000. Voya Investment Management LLC lifted its stake in Lear by 34.4% in the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after buying an additional 11,696 shares during the period. Comerica Bank boosted its holdings in Lear by 9.8% during the first quarter. Comerica Bank now owns 40,086 shares of the auto parts company’s stock worth $3,536,000 after buying an additional 3,575 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lear by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 513,408 shares of the auto parts company’s stock worth $45,293,000 after buying an additional 17,644 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Trading Up 4.5%

Shares of Lear stock opened at $111.37 on Thursday. The stock has a market cap of $5.78 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.92 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.53. Lear Corporation has a 12-month low of $73.85 and a 12-month high of $113.10. The business’s 50 day moving average is $104.35 and its 200-day moving average is $101.77.

Lear (NYSE:LEA) last released its earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. Lear had a net margin of 1.92% and a return on equity of 13.44%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period last year, the business earned $2.89 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Lear’s dividend payout ratio is presently 37.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Lear in a research report on Tuesday, October 14th. Wells Fargo & Company lowered their target price on shares of Lear from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Tuesday. UBS Group cut their target price on shares of Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lear from $133.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $118.80.

About Lear

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.