Strs Ohio Acquires 455 Shares of Lear Co. (NYSE:LEA)

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Strs Ohio raised its holdings in shares of Lear Co. (NYSE:LEA) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,386 shares of the auto parts company’s stock after acquiring an additional 455 shares during the period. Strs Ohio’s holdings in Lear were worth $1,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nissay Asset Management Corp Japan ADV grew its position in Lear by 1.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 7,260 shares of the auto parts company’s stock valued at $985,000 after acquiring an additional 72 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Lear by 3.1% in the second quarter. World Asset Management Inc now owns 3,037 shares of the auto parts company’s stock worth $423,000 after purchasing an additional 91 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Lear by 4.5% in the second quarter. Bessemer Group Inc. now owns 2,195 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 94 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Lear by 3.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,730 shares of the auto parts company’s stock worth $506,000 after purchasing an additional 131 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Lear by 0.9% in the second quarter. Empirical Finance LLC now owns 16,172 shares of the auto parts company’s stock worth $2,252,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Several brokerages have recently issued reports on LEA. ValuEngine cut shares of Lear from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 17th. Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and cut their target price for the stock from $180.00 to $140.00 in a report on Wednesday, July 17th. Morgan Stanley set a $165.00 target price on shares of Lear and gave the stock a “buy” rating in a report on Wednesday, June 26th. KeyCorp cut their target price on shares of Lear from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. They noted that the move was a valuation call. Finally, Royal Bank of Canada cut shares of Lear from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $135.00 in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Lear presently has an average rating of “Hold” and a consensus target price of $158.60.

NYSE:LEA opened at $113.81 on Wednesday. The company has a market capitalization of $6.84 billion, a PE ratio of 6.25, a P/E/G ratio of 3.01 and a beta of 1.49. The firm has a fifty day moving average of $129.57. Lear Co. has a twelve month low of $110.90 and a twelve month high of $176.05. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.52.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $3.82 by ($0.04). The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. Lear had a net margin of 4.38% and a return on equity of 23.18%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.95 EPS. Analysts predict that Lear Co. will post 15.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Thursday, August 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, August 28th. Lear’s dividend payout ratio (DPR) is currently 16.47%.

About Lear

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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