Lear Co. (NYSE:LEA) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Lear Co. (NYSE:LEA) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,803 shares of the auto parts company’s stock after buying an additional 336 shares during the period. State of Alaska Department of Revenue’s holdings in Lear were worth $1,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Meridian Wealth Management LLC acquired a new position in shares of Lear during the first quarter worth $28,000. NEXT Financial Group Inc lifted its position in shares of Lear by 64.8% during the second quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock worth $59,000 after purchasing an additional 166 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Lear by 78.2% during the first quarter. Quadrant Capital Group LLC now owns 531 shares of the auto parts company’s stock worth $69,000 after purchasing an additional 233 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of 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 purchasing an additional 176 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in shares of Lear by 8.8% during the first quarter. First Hawaiian Bank now owns 1,230 shares of the auto parts company’s stock worth $167,000 after purchasing an additional 100 shares in the last quarter. 90.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LEA traded down $2.84 during midday trading on Monday, reaching $118.09. The company had a trading volume of 6,655 shares, compared to its average volume of 670,712. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.10. The company’s fifty day simple moving average is $133.90. The stock has a market cap of $7.18 billion, a PE ratio of 6.47, a P/E/G ratio of 3.18 and a beta of 1.50. Lear Co. has a one year low of $114.45 and a one year high of $180.07.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.95 EPS. As a group, equities analysts anticipate that Lear Co. will post 15.22 earnings per share for the current year.

A number of research analysts have recently commented on LEA shares. Credit Suisse Group reduced their target price on shares of Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Morgan Stanley set a $165.00 target price on shares of Lear and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $180.00 to $140.00 in a research report on Wednesday, July 17th. Royal Bank of Canada cut shares of Lear from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $160.00 to $135.00 in a research report on Wednesday, July 17th. Finally, Citigroup reduced their target price on shares of Lear from $144.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Lear presently has an average rating of “Hold” and a consensus target price of $158.60.

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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