Victory Capital Management Inc. Boosts Stake in Lear Co. (NYSE:LEA)

Victory Capital Management Inc. raised its holdings in Lear Co. (NYSE:LEA) by 30.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,583 shares of the auto parts company’s stock after purchasing an additional 5,770 shares during the quarter. Victory Capital Management Inc.’s holdings in Lear were worth $3,424,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Alpha Windward LLC raised its stake in shares of Lear by 11.6% during the 2nd quarter. Alpha Windward LLC now owns 3,420 shares of the auto parts company’s stock worth $441,000 after buying an additional 355 shares in the last quarter. Lazard Asset Management LLC increased its stake in Lear by 3,467.7% in the 1st quarter. Lazard Asset Management LLC now owns 295,943 shares of the auto parts company’s stock valued at $40,162,000 after buying an additional 287,648 shares during the last quarter. GAM Holding AG acquired a new stake in Lear in the 2nd quarter valued at $1,097,000. CIBC Asset Management Inc increased its stake in Lear by 22.9% in the 2nd quarter. CIBC Asset Management Inc now owns 4,547 shares of the auto parts company’s stock valued at $633,000 after buying an additional 848 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Lear by 6.8% in the 2nd quarter. Arizona State Retirement System now owns 19,911 shares of the auto parts company’s stock valued at $2,773,000 after buying an additional 1,270 shares during the last quarter. Institutional investors own 89.20% of the company’s stock.

Several equities research analysts have issued reports on the stock. KeyCorp lowered their price target on shares of Lear from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada lowered shares of Lear from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $160.00 to $135.00 in a report on Wednesday, July 17th. Credit Suisse Group reduced their target price on shares of Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. TheStreet lowered shares of Lear from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Finally, Citigroup reduced their price objective on shares of Lear from $144.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Lear has an average rating of “Hold” and a consensus price target of $153.60.

NYSE:LEA opened at $111.36 on Friday. The firm’s fifty day moving average is $115.28 and its 200-day moving average is $130.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.34. Lear Co. has a 52 week low of $105.10 and a 52 week high of $160.00. The firm has a market cap of $6.94 billion, a P/E ratio of 6.11, a P/E/G ratio of 3.05 and a beta of 1.48.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.82 by ($0.04). The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.95 earnings per share. As a group, sell-side analysts anticipate that Lear Co. will post 14.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Thursday, August 29th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, August 28th. Lear’s dividend payout ratio is presently 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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