Victory Capital Management Inc. decreased its holdings in shares of Lear Co. (NYSE:LEA) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,344 shares of the auto parts company’s stock after selling 7,382 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Lear worth $19,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wright Investors Service Inc. grew its position in Lear by 65.9% in the 2nd quarter. Wright Investors Service Inc. now owns 6,815 shares of the auto parts company’s stock worth $1,266,000 after purchasing an additional 2,706 shares during the last quarter. Wells Fargo & Company MN grew its position in Lear by 5.7% in the 2nd quarter. Wells Fargo & Company MN now owns 661,450 shares of the auto parts company’s stock worth $122,904,000 after purchasing an additional 35,533 shares during the last quarter. Smith Asset Management Group LP grew its position in Lear by 5.8% in the 2nd quarter. Smith Asset Management Group LP now owns 221,708 shares of the auto parts company’s stock worth $41,238,000 after purchasing an additional 12,131 shares during the last quarter. Comerica Bank grew its position in Lear by 4.6% in the 2nd quarter. Comerica Bank now owns 11,155 shares of the auto parts company’s stock worth $2,126,000 after purchasing an additional 493 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Lear in the 2nd quarter worth about $371,000. Hedge funds and other institutional investors own 92.99% of the company’s stock.

In related news, Director Jonathan F. Foster sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $203.24, for a total transaction of $508,100.00. Following the completion of the sale, the director now directly owns 7,381 shares of the company’s stock, valued at $1,500,114.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.43% of the stock is owned by corporate insiders.

LEA has been the subject of several recent analyst reports. Citigroup decreased their target price on shares of Lear from $243.00 to $234.00 and set a “buy” rating for the company in a research report on Monday, July 30th. Robert W. Baird reiterated a “buy” rating and issued a $243.00 price objective on shares of Lear in a report on Friday, July 27th. Longbow Research reiterated a “buy” rating and issued a $225.00 price objective on shares of Lear in a report on Thursday, July 26th. ValuEngine cut shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 21st. Finally, Zacks Investment Research cut shares of Lear from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Lear has an average rating of “Buy” and an average price target of $205.67.

Lear stock opened at $173.31 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $11.31 billion, a PE ratio of 10.19 and a beta of 1.37. Lear Co. has a 12-month low of $141.00 and a 12-month high of $206.36.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.04). The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.54 billion. Lear had a net margin of 6.31% and a return on equity of 28.84%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $4.39 earnings per share. sell-side analysts anticipate that Lear Co. will post 19.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Thursday, August 30th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, August 29th. Lear’s dividend payout ratio is presently 16.47%.

Lear Company Profile

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.

See Also: Market Capitalization and Individual Investors

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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