Tidal Investments LLC Sells 3,736 Shares of Lear Co. (NYSE:LEA)

Tidal Investments LLC reduced its stake in Lear Co. (NYSE:LEA) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,195 shares of the auto parts company’s stock after selling 3,736 shares during the period. Tidal Investments LLC’s holdings in Lear were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Lear in the 3rd quarter worth approximately $50,000. Sanctuary Advisors LLC grew its stake in Lear by 10.9% in the third quarter. Sanctuary Advisors LLC now owns 2,052 shares of the auto parts company’s stock worth $224,000 after purchasing an additional 202 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Lear by 63.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 3,426 shares of the auto parts company’s stock worth $374,000 after acquiring an additional 1,331 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Lear during the third quarter valued at approximately $1,886,000. Finally, Geode Capital Management LLC increased its position in Lear by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company’s stock valued at $124,621,000 after buying an additional 44,128 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on LEA. The Goldman Sachs Group dropped their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wolfe Research began coverage on shares of Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Wells Fargo & Company dropped their target price on shares of Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley cut their price target on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Lear currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.67.

Lear Trading Up 1.7 %

NYSE:LEA opened at $94.78 on Friday. The company has a market cap of $5.15 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $99.13 and a two-hundred day simple moving average of $108.91. Lear Co. has a 12 month low of $91.70 and a 12 month high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. Lear’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 earnings per share. Research analysts forecast that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a yield of 3.25%. Lear’s dividend payout ratio is currently 32.39%.

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.