State of Alaska Department of Revenue trimmed its position in shares of Lear Co. (NYSE:LEA) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,467 shares of the auto parts company’s stock after selling 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lear were worth $1,554,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisory Services Network LLC increased its stake in Lear by 25.1% during the fourth quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after acquiring an additional 176 shares during the last quarter. Citigroup Inc. boosted its position in shares of Lear by 17.3% in the fourth 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 during the period. Actinver Wealth Management Inc. purchased a new stake in shares of Lear in the fourth quarter worth about $242,000. IMS Capital Management purchased a new stake in shares of Lear in the third quarter worth about $38,000. Finally, Hudson Capital Management LLC boosted its position in shares of Lear by 19.8% in the fourth quarter. Hudson Capital Management LLC now owns 9,108 shares of the auto parts company’s stock worth $1,119,000 after buying an additional 1,508 shares during the period. Institutional investors own 98.53% of the company’s stock.
A number of research analysts recently commented on LEA shares. Zacks Investment Research downgraded Lear from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Longbow Research restated a “buy” rating and set a $190.00 price objective on shares of Lear in a research note on Wednesday, May 1st. ValuEngine cut Lear from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Barclays restated a “hold” rating and set a $142.00 price objective on shares of Lear in a research note on Thursday, January 24th. Finally, Goldman Sachs Group restated a “buy” rating and set a $182.00 price objective (up previously from $163.00) on shares of Lear in a research note on Monday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $178.53.
Shares of Lear stock traded up $1.55 during midday trading on Friday, hitting $140.33. The company’s stock had a trading volume of 946,477 shares, compared to its average volume of 591,217. The stock has a market cap of $8.64 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 3.16 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44. Lear Co. has a 1-year low of $114.45 and a 1-year high of $206.36.
Lear (NYSE:LEA) last issued its earnings results on Friday, April 26th. The auto parts company reported $4.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.06 by ($0.06). The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.25 billion. Lear had a return on equity of 25.28% and a net margin of 4.94%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the business earned $5.10 EPS. Analysts expect that Lear Co. will post 17.59 EPS for the current fiscal year.
Lear announced that its Board of Directors has initiated a stock buyback plan 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 purchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
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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