Foster & Motley Inc. Lowers Holdings in Lear Co. (NYSE:LEA)

Foster & Motley Inc. decreased its holdings in Lear Co. (NYSE:LEA) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,479 shares of the auto parts company’s stock after selling 2,258 shares during the quarter. Foster & Motley Inc.’s holdings in Lear were worth $2,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Lear by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,040,569 shares of the auto parts company’s stock valued at $127,843,000 after acquiring an additional 27,314 shares in the last quarter. Legal & General Group Plc grew its position in Lear by 4.5% in the 4th quarter. Legal & General Group Plc now owns 387,196 shares of the auto parts company’s stock worth $47,571,000 after purchasing an additional 16,622 shares during the period. National Pension Service grew its position in Lear by 7.8% in the 4th quarter. National Pension Service now owns 90,531 shares of the auto parts company’s stock worth $14,088,000 after purchasing an additional 6,554 shares during the period. Cetera Advisors LLC grew its position in Lear by 4.3% in the 4th quarter. Cetera Advisors LLC now owns 4,578 shares of the auto parts company’s stock worth $563,000 after purchasing an additional 190 shares during the period. Finally, Macquarie Group Ltd. grew its position in Lear by 47.1% in the 4th quarter. Macquarie Group Ltd. now owns 34,119 shares of the auto parts company’s stock worth $4,192,000 after purchasing an additional 10,919 shares during the period. 89.38% of the stock is owned by institutional investors and hedge funds.

Shares of Lear stock traded down $2.20 on Friday, hitting $131.26. 425,657 shares of the company’s stock were exchanged, compared to its average volume of 627,915. The firm has a 50-day moving average of $135.04. The company has a market capitalization of $8.39 billion, a PE ratio of 7.20, a PEG ratio of 3.52 and a beta of 1.48. Lear Co. has a 1 year low of $114.45 and a 1 year high of $181.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.10.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.82 by ($0.04). Lear had a return on equity of 25.28% and a net margin of 4.94%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $4.95 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts predict that Lear Co. will post 15.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 7th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, June 6th. Lear’s dividend payout ratio (DPR) is 16.47%.

A number of equities research analysts have commented on the stock. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup downgraded shares of Lear from a “buy” rating to a “neutral” rating and cut their target price for the stock from $188.00 to $144.00 in a research report on Wednesday, July 17th. Argus assumed coverage on shares of Lear in a research report on Thursday, March 28th. They issued a “hold” rating for the company. KeyCorp cut their target price on shares of Lear from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $12.00 target price on shares of Adient and gave the stock a “sell” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Lear currently has a consensus rating of “Hold” and an average target price of $164.75.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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