Isthmus Partners LLC Has $8.86 Million Position in Lear Co. (NYSE:LEA)

Isthmus Partners LLC decreased its stake in Lear Co. (NYSE:LEA) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,533 shares of the auto parts company’s stock after selling 1,087 shares during the period. Lear accounts for about 1.6% of Isthmus Partners LLC’s holdings, making the stock its 29th biggest holding. Isthmus Partners LLC’s holdings in Lear were worth $8,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Huntington National Bank increased its stake in shares of Lear by 61.9% in the second quarter. Huntington National Bank now owns 191 shares of the auto parts company’s stock valued at $33,000 after buying an additional 73 shares during the period. Sterling Financial Planning Inc. acquired a new stake in shares of Lear in the second quarter valued at about $35,000. Allred Capital Management LLC acquired a new stake in shares of Lear in the first quarter valued at about $39,000. Achmea Investment Management B.V. bought a new stake in shares of Lear during the 1st quarter valued at about $65,000. Finally, Sowell Financial Services LLC boosted its position in shares of Lear by 2,337.9% during the 1st quarter. Sowell Financial Services LLC now owns 707 shares of the auto parts company’s stock valued at $136,000 after purchasing an additional 678 shares in the last quarter. 95.77% of the stock is owned by institutional investors.

NYSE:LEA traded down $0.32 during trading hours on Wednesday, hitting $157.17. 6,110 shares of the company’s stock traded hands, compared to its average volume of 402,765. The firm has a market cap of $9.39 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.30 and a beta of 1.53. Lear Co. has a 52 week low of $103.35 and a 52 week high of $204.91. The business’s fifty day simple moving average is $165.00 and its two-hundred day simple moving average is $176.73. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, August 5th. The auto parts company reported $2.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.47 by ($0.02). Lear had a net margin of 3.73% and a return on equity of 17.71%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business posted ($4.14) EPS. Lear’s quarterly revenue was up 94.7% on a year-over-year basis. On average, analysts expect that Lear Co. will post 11.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 21st. Shareholders of record on Thursday, September 2nd will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 1st. This represents a $2.00 annualized dividend and a yield of 1.27%. This is a positive change from Lear’s previous quarterly dividend of $0.25. Lear’s payout ratio is 37.52%.

Several equities research analysts recently commented on the company. The Goldman Sachs Group upgraded Lear from a “neutral” rating to a “buy” rating and upped their target price for the company from $198.00 to $228.00 in a research report on Thursday, June 24th. Credit Suisse Group cut their price target on Lear from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, August 10th. Wells Fargo & Company decreased their price target on Lear from $203.00 to $199.00 and set an “overweight” rating for the company in a research report on Friday, September 10th. TheStreet raised Lear from a “c” rating to a “b-” rating in a research report on Friday, August 13th. Finally, Cowen decreased their target price on Lear from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, August 9th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lear has a consensus rating of “Buy” and a consensus price target of $197.43.

Lear Profile

Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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