Lear Co. (NYSE:LEA) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its holdings in Lear Co. (NYSE:LEA) by 36.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,035 shares of the auto parts company’s stock after selling 4,526 shares during the quarter. Sei Investments Co.’s holdings in Lear were worth $918,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pzena Investment Management LLC raised its position in Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares during the period. Vanguard Group Inc. raised its position in shares of Lear by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock worth $872,640,000 after purchasing an additional 109,746 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock valued at $314,620,000 after buying an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after buying an additional 504,091 shares during the last quarter. Finally, Greenhaven Associates Inc. increased its stake in Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after buying an additional 17,820 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Stock Performance

Shares of Lear stock opened at $106.59 on Tuesday. The firm has a market cap of $6.05 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. Lear Co. has a 52 week low of $101.67 and a 52 week high of $147.11. The business’s fifty day simple moving average is $111.28 and its 200-day simple moving average is $121.22.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the firm earned $3.33 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Lear Co. will post 12.66 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.89%. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEA. Evercore ISI decreased their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group dropped their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Bank of America decreased their price target on shares of Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.91.

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 in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.