GSA Capital Partners LLP Sells 20,894 Shares of Lear Co. (LEA)

GSA Capital Partners LLP reduced its holdings in shares of Lear Co. (NYSE:LEA) by 91.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,833 shares of the auto parts company’s stock after selling 20,894 shares during the period. GSA Capital Partners LLP’s holdings in Lear were worth $225,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Citigroup Inc. increased its holdings in Lear by 17.3% in the 4th quarter. Citigroup Inc. now owns 177,365 shares of the auto parts company’s stock worth $21,792,000 after buying an additional 26,155 shares in the last quarter. Noked Capital LTD bought a new stake in Lear in the 4th quarter worth about $614,000. Mn Services Vermogensbeheer B.V. increased its holdings in Lear by 3.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 11,085 shares of the auto parts company’s stock worth $1,191,000 after buying an additional 400 shares in the last quarter. Advisor Group Inc. increased its holdings in Lear by 96.6% in the 4th quarter. Advisor Group Inc. now owns 6,689 shares of the auto parts company’s stock worth $822,000 after buying an additional 3,286 shares in the last quarter. Finally, Hosking Partners LLP increased its holdings in Lear by 7.8% in the 4th quarter. Hosking Partners LLP now owns 35,320 shares of the auto parts company’s stock worth $4,339,000 after buying an additional 2,566 shares in the last quarter. Hedge funds and other institutional investors own 98.06% of the company’s stock.

Shares of Lear stock traded down $1.49 during trading hours on Monday, reaching $156.30. 422,269 shares of the stock traded hands, compared to its average volume of 714,471. The company has a market cap of $9.88 billion, a P/E ratio of 8.58, a P/E/G ratio of 3.47 and a beta of 1.32. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. Lear Co. has a one year low of $114.45 and a one year high of $206.36.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, January 25th. The auto parts company reported $4.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.96 by $0.09. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.38 EPS. Research analysts anticipate that Lear Co. will post 17.89 EPS for the current fiscal year.

Lear declared that its board has approved a share buyback program on Thursday, February 7th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the auto parts company to repurchase up to 15.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, February 28th. This is an increase from Lear’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.92%. Lear’s payout ratio is 16.47%.

In related news, VP Shari L. Burgess sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $156.00, for a total transaction of $546,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terrence B. Larkin sold 18,985 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $155.28, for a total value of $2,947,990.80. Following the completion of the transaction, the executive vice president now directly owns 2,752 shares in the company, valued at $427,330.56. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Several equities research analysts recently commented on the company. KeyCorp lifted their price objective on Lear from $178.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, January 28th. Robert W. Baird boosted their price target on Lear from $140.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday, January 28th. They noted that the move was a valuation call. Goldman Sachs Group restated a “buy” rating and set a $182.00 price target (up from $163.00) on shares of Lear in a research note on Monday, January 28th. Morgan Stanley cut their price target on Lear from $185.00 to $181.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Lear currently has an average rating of “Buy” and an average price target of $178.87.

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Lear Profile

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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