Quantbot Technologies LP Sells 8,883 Shares of Lear Co. (NYSE:LEA)

Quantbot Technologies LP reduced its position in Lear Co. (NYSE:LEA) by 42.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,065 shares of the auto parts company’s stock after selling 8,883 shares during the quarter. Quantbot Technologies LP’s holdings in Lear were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Greenhaven Associates Inc. increased its holdings in Lear by 1.2% in the 4th quarter. Greenhaven Associates Inc. now owns 1,842,247 shares of the auto parts company’s stock worth $174,461,000 after acquiring an additional 22,601 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lear by 4.0% in the third quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company’s stock worth $124,621,000 after purchasing an additional 44,128 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Lear by 6.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 715,788 shares of the auto parts company’s stock valued at $78,128,000 after purchasing an additional 46,303 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Lear by 17.1% during the 4th quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company’s stock valued at $64,110,000 after buying an additional 99,072 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Lear by 25.7% in the 4th quarter. ARGA Investment Management LP now owns 595,615 shares of the auto parts company’s stock worth $56,405,000 after buying an additional 121,734 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Stock Down 0.8 %

Shares of NYSE:LEA opened at $95.84 on Wednesday. The firm has a market capitalization of $5.14 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear Co. has a 52-week low of $86.28 and a 52-week high of $146.19. The firm has a fifty day moving average of $95.55 and a 200 day moving average of $98.58.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. As a group, research analysts anticipate that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, March 6th. Lear’s dividend payout ratio (DPR) is presently 34.45%.

Analyst Ratings Changes

LEA has been the topic of a number of analyst reports. TD Cowen cut shares of Lear from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Morgan Stanley cut their target price on Lear from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Cowen cut Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company raised their price objective on shares of Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Lear presently has an average rating of “Hold” and an average price target of $123.36.

Insider Transactions at Lear

In related news, Director Rod Lache acquired 2,178 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the acquisition, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.79% of the company’s stock.

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.