Public Employees Retirement System of Ohio Sells 2,770 Shares of Lear Co. (NYSE:LEA)

Public Employees Retirement System of Ohio reduced its position in shares of Lear Co. (NYSE:LEA) by 10.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,748 shares of the auto parts company’s stock after selling 2,770 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lear were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LEA. Altshuler Shaham Ltd bought a new stake in shares of Lear in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Brooklyn Investment Group bought a new stake in Lear in the third quarter valued at approximately $34,000. Blue Trust Inc. lifted its position in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

LEA has been the topic of a number of research analyst reports. Barclays cut Lear from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $140.00 to $120.00 in a research note on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Lear in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group cut their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Bank of America decreased their target price on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company dropped their price target on Lear from $106.00 to $99.00 and set an “equal weight” rating for the company in a report on Monday. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $139.67.

Lear Trading Down 2.8 %

Shares of LEA opened at $95.55 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. Lear Co. has a 52-week low of $92.14 and a 52-week high of $147.11. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.60 and a beta of 1.45. The business’s fifty day moving average is $99.81 and its 200-day moving average is $109.35.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.87 EPS. Equities analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a yield of 3.22%. Lear’s payout ratio is presently 32.39%.

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 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.