First Republic Investment Management Inc. reduced its position in Lear Co. (NYSE:LEA) by 13.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,615 shares of the auto parts company’s stock after selling 391 shares during the period. First Republic Investment Management Inc.’s holdings in Lear were worth $486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Lear by 23.3% in the 2nd quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after purchasing an additional 302,664 shares in the last quarter. Bank of Montreal Can purchased a new position in Lear in the 2nd quarter valued at approximately $266,584,000. Boston Partners increased its stake in Lear by 36.6% in the 2nd quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock valued at $254,274,000 after purchasing an additional 366,768 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lear by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 977,485 shares of the auto parts company’s stock valued at $181,649,000 after purchasing an additional 15,274 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its stake in Lear by 65.8% in the 2nd quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock valued at $171,785,000 after purchasing an additional 366,915 shares in the last quarter. 91.25% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on LEA shares. JPMorgan Chase & Co. dropped their price objective on Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $209.00 to $214.00 in a research note on Tuesday, July 31st. Buckingham Research set a $150.00 price objective on Lear and gave the company a “hold” rating in a research note on Wednesday, September 19th. ValuEngine downgraded Lear from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Finally, Robert W. Baird reiterated a “buy” rating and set a $243.00 target price on shares of Lear in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $204.28.

Shares of NYSE:LEA opened at $155.31 on Tuesday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 9.14 and a beta of 1.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.35. Lear Co. has a one year low of $152.62 and a one year high of $206.36.

Lear (NYSE:LEA) last announced its earnings results on Thursday, July 26th. The auto parts company reported $4.95 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.04). The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.54 billion. Lear had a net margin of 6.31% and a return on equity of 28.84%. Lear’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.39 EPS. equities research analysts forecast that Lear Co. will post 18.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Thursday, August 30th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, August 29th. Lear’s dividend payout ratio (DPR) is presently 16.47%.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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