Investors Sell Shares of Lear (LEA) on Strength (LEA)

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Traders sold shares of Lear Co. (NYSE:LEA) on strength during trading hours on Thursday. $45.12 million flowed into the stock on the tick-up and $58.40 million flowed out of the stock on the tick-down, for a money net flow of $13.28 million out of the stock. Of all companies tracked, Lear had the 0th highest net out-flow for the day. Lear traded up $2.48 for the day and closed at $137.54

Several brokerages recently commented on LEA. Citigroup cut their price objective on Lear from $234.00 to $214.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price target on Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, July 27th. Robert W. Baird reissued a “buy” rating and set a $243.00 price target on shares of Lear in a report on Friday, July 27th. ValuEngine lowered Lear from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Finally, Zacks Investment Research raised Lear from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Lear has an average rating of “Buy” and a consensus price target of $204.88.

The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.50 billion, a PE ratio of 7.90 and a beta of 1.34.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.99 by ($0.04). Lear had a net margin of 6.31% and a return on equity of 28.84%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the firm posted $4.39 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts anticipate that Lear Co. will post 18.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Thursday, August 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, August 29th. Lear’s dividend payout ratio (DPR) is 16.47%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lourd Capital LLC bought a new position in shares of Lear in the third quarter worth about $281,000. Daiwa SB Investments Ltd. boosted its stake in shares of Lear by 2,220.0% in the third quarter. Daiwa SB Investments Ltd. now owns 1,160 shares of the auto parts company’s stock worth $168,000 after acquiring an additional 1,110 shares during the period. Midas Management Corp boosted its stake in shares of Lear by 138.6% in the third quarter. Midas Management Corp now owns 16,700 shares of the auto parts company’s stock worth $2,422,000 after acquiring an additional 9,700 shares during the period. Cerebellum GP LLC bought a new position in shares of Lear in the third quarter worth about $184,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Lear in the third quarter worth about $642,000. 91.36% of the stock is owned by hedge funds and other institutional investors.

About Lear (NYSE:LEA)

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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