Lear Co. (NYSE:LEA) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in shares of Lear Co. (NYSE:LEA) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,533 shares of the auto parts company’s stock after selling 3,740 shares during the period. Amalgamated Bank owned 0.06% of Lear worth $4,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LEA. Pzena Investment Management LLC boosted its stake in Lear by 15.2% in the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock valued at $820,929,000 after acquiring an additional 946,109 shares in the last quarter. Norges Bank acquired a new position in Lear in the fourth quarter valued at $79,611,000. Dimensional Fund Advisors LP boosted its stake in Lear by 36.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after acquiring an additional 504,091 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Lear by 970.4% in the fourth quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock valued at $76,373,000 after acquiring an additional 490,324 shares in the last quarter. Finally, Lyrical Asset Management LP boosted its stake in Lear by 55.4% in the fourth quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock valued at $150,796,000 after acquiring an additional 380,771 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Trading Down 1.8 %

NYSE LEA opened at $108.02 on Monday. The stock has a market capitalization of $6.13 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.41 and a beta of 1.45. Lear Co. has a 52-week low of $101.67 and a 52-week high of $147.11. The firm has a 50-day moving average price of $113.91 and a 200 day moving average price of $123.79. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the company posted $3.33 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Lear Co. will post 12.79 EPS for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.85%. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LEA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company reduced their target price on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a report on Friday. Morgan Stanley reduced their target price on shares of Lear from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, Evercore ISI reduced their target price on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.70.

Lear 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.