Lear Corporation $LEA Stock: Robeco Institutional Asset Management B.V. Lowers Holdings

Robeco Institutional Asset Management B.V. lowered its position in Lear Corporation (NYSE:LEA) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,975 shares of the auto parts company’s stock after selling 6,650 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.15% of Lear worth $8,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Lear by 139.6% during the 3rd quarter. IFP Advisors Inc now owns 1,495 shares of the auto parts company’s stock worth $176,000 after purchasing an additional 871 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Lear by 5,313.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,624 shares of the auto parts company’s stock valued at $198,000 after purchasing an additional 1,594 shares during the period. Ellsworth Advisors LLC acquired a new stake in Lear in the 3rd quarter valued at about $3,123,000. Assenagon Asset Management S.A. acquired a new stake in Lear in the 3rd quarter valued at about $11,911,000. Finally, Curated Wealth Partners LLC acquired a new position in Lear during the third quarter worth approximately $260,000. Institutional investors own 97.04% of the company’s stock.

Insiders Place Their Bets

In related news, Director Conrad L. Mallett, Jr. sold 1,646 shares of Lear stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the sale, the director directly owned 37 shares of the company’s stock, valued at approximately $4,489.95. This trade represents a 97.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Lear Stock Down 1.6%

Shares of LEA opened at $116.70 on Friday. Lear Corporation has a 52 week low of $99.00 and a 52 week high of $150.33. The firm has a market cap of $5.76 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.66 and a beta of 1.29. The firm’s 50-day simple moving average is $123.12 and its 200 day simple moving average is $130.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.30. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Lear had a net margin of 2.35% and a return on equity of 14.18%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. On average, analysts forecast that Lear Corporation will post 14.88 earnings per share for the current year.

Lear announced that its board has authorized a share buyback program on Thursday, September 24th that permits the company to repurchase $1.50 billion in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 25.7% of its shares through open market purchases. Share buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. Lear’s dividend payout ratio (DPR) is 28.70%.

Analyst Upgrades and Downgrades

LEA has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada reduced their target price on Lear from $143.00 to $139.00 and set a “sector perform” rating for the company in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft set a $131.00 target price on Lear in a report on Monday, August 3rd. Weiss Ratings cut Lear from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Finally, Barclays cut their price target on Lear from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.58.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analysts expect Lear to report year-over-year earnings growth when it releases results on Friday, providing a potential catalyst for the stock. Lear Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Lear is being highlighted as a long-term value stock, which could attract investors given its relatively low valuation and the company’s prior earnings performance, including a recent quarterly earnings beat. Why Lear Is a Top Value Stock for the Long-Term
• Positive Sentiment: The average analyst price target is $143.58, substantially above Lear’s recent trading level, indicating considerable potential upside if earnings and industry conditions meet expectations. Lear Corporation Stock Has Average Price Target of $143.58
• Neutral Sentiment: Lear has appointed Fedele as chief financial officer. The leadership change may be relevant to investors, but the announcement provides no immediate change to earnings guidance or operating outlook. Lear Corporation Appoints Fedele as CFO
• Negative Sentiment: Zacks reports that Lear does not currently show the combination of indicators typically associated with a likely earnings beat. That caution may be weighing on the stock ahead of results, particularly while shares remain below their 50-day and 200-day moving averages. Lear Reports Next Week: Wall Street Expects Earnings Growth

Lear Company Profile

Lear Corporation is a global automotive technology company that designs and manufactures products used in passenger vehicles and commercial vehicles. Its operations are organized primarily around two areas: seating and e-systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that support vehicle power management and connectivity.

The company serves automotive manufacturers and their vehicle programs in major markets across North America, Europe, Asia and other regions.