Carillon Tower Advisers Inc. cut its stake in shares of Lear Co. (NYSE:LEA) by 43.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,300 shares of the auto parts company’s stock after selling 15,550 shares during the quarter. Carillon Tower Advisers Inc.’s holdings in Lear were worth $2,755,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of LEA. Pinnacle Bank bought a new position in shares of Lear during the fourth quarter valued at $31,000. Massey Quick Simon & CO. LLC bought a new position in shares of Lear during the fourth quarter valued at $32,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 4,854,451 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Lear during the fourth quarter valued at $49,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Lear by 78.2% during the first quarter. Quadrant Capital Group LLC now owns 531 shares of the auto parts company’s stock valued at $69,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
LEA has been the subject of several analyst reports. Zacks Investment Research downgraded Lear from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Longbow Research reaffirmed a “buy” rating and set a $190.00 price objective on shares of Lear in a research report on Wednesday, May 1st. ValuEngine cut Lear from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Barclays reaffirmed a “hold” rating and set a $142.00 price objective on shares of Lear in a research report on Thursday, January 24th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $182.00 price objective (up from $163.00) on shares of Lear in a research report on Monday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $175.57.
Lear stock opened at $136.32 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.34. Lear Co. has a one year low of $114.45 and a one year high of $206.36. The firm has a market cap of $8.39 billion, a P/E ratio of 7.48, a price-to-earnings-growth ratio of 3.06 and a beta of 1.32.
Lear (NYSE:LEA) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.06 by ($0.06). Lear had a net margin of 4.94% and a return on equity of 25.28%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the business earned $5.10 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Lear Co. will post 17.59 EPS for the current fiscal year.
Lear declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 7th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 15.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Lear news, VP Shari L. Burgess sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $156.00, for a total value of $546,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.
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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