Lear Co. (NYSE:LEA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Lear Co. (NYSE:LEA) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,749 shares of the auto parts company’s stock after selling 3,791 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lear were worth $812,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after buying an additional 91 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Lear during the 4th quarter worth approximately $56,000. Covestor Ltd increased its position in shares of Lear by 131.9% in the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Lear by 72.1% in the 4th quarter. V Square Quantitative Management LLC now owns 654 shares of the auto parts company’s stock valued at $92,000 after purchasing an additional 274 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Lear by 21.4% in the 4th quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock valued at $107,000 after purchasing an additional 133 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Up 0.9 %

Shares of NYSE:LEA opened at $117.12 on Tuesday. The stock has a market cap of $6.65 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.30 and a beta of 1.51. The firm has a fifty day moving average price of $126.18 and a 200 day moving average price of $133.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04. Lear Co. has a 1-year low of $113.14 and a 1-year high of $157.90.

Lear (NYSE:LEA) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.14. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. Lear’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.78 EPS. Sell-side analysts predict that Lear Co. will post 14.22 EPS for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Thursday, June 6th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, June 6th. Lear’s dividend payout ratio is currently 33.59%.

Insider Buying and Selling

In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg C. Smith sold 2,392 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

LEA has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on shares of Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Barclays dropped their price objective on shares of Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $150.00 to $160.00 in a research report on Friday, May 10th. Finally, UBS Group dropped their target price on shares of Lear from $142.00 to $136.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.78.

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.