Russell Investments Group Ltd. Reduces Position in Lear Corporation (NYSE:LEA)

Russell Investments Group Ltd. lowered its stake in shares of Lear Corporation (NYSE:LEA) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,661 shares of the auto parts company’s stock after selling 28,209 shares during the quarter. Russell Investments Group Ltd. owned 0.35% of Lear worth $40,790,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Lear by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares in the last quarter. Toronto Dominion Bank raised its position in Lear by 10.9% in the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 84 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in Lear in the 2nd quarter worth $126,000. Global X Management Co. LLC raised its position in Lear by 16.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 145 shares during the period. Finally, Parallel Advisors LLC raised its position in Lear by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Lear from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cowen reiterated a “buy” rating and issued a $196.00 target price on shares of Lear in a research report on Friday, October 27th. Barclays lifted their target price on shares of Lear from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Deutsche Bank lifted their target price on shares of Lear from $167.00 to $176.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Guggenheim cut shares of Lear from a “buy” rating to a “neutral” rating and set a $167.00 target price on the stock. in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $173.13.

Shares of Lear Corporation (NYSE LEA) traded down $3.79 during trading on Wednesday, reaching $174.01. 536,911 shares of the company’s stock were exchanged, compared to its average volume of 661,774. The company has a market cap of $11,958.25, a price-to-earnings ratio of 10.78, a PEG ratio of 1.47 and a beta of 1.43. Lear Corporation has a 1-year low of $131.82 and a 1-year high of $181.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34.

Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.16. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.84 billion. Lear had a net margin of 5.79% and a return on equity of 31.79%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. sell-side analysts expect that Lear Corporation will post 16.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, December 7th. Lear’s payout ratio is 12.47%.

In other news, Director Henry D. G. Wallace sold 4,139 shares of Lear stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the sale, the director now owns 4,100 shares of the company’s stock, valued at approximately $683,511. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of Lear stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the sale, the director now directly owns 7,761 shares in the company, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. Insiders have sold a total of 11,337 shares of company stock worth $1,946,256 in the last ninety days. Insiders own 0.49% of the company’s stock.

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Lear Company Profile

Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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