Creative Planning Sells 927 Shares of Lear Co. (NYSE:LEA)

Creative Planning trimmed its position in Lear Co. (NYSE:LEA) by 16.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,770 shares of the auto parts company’s stock after selling 927 shares during the period. Creative Planning’s holdings in Lear were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC increased its holdings in Lear by 244.8% in the second quarter. Algert Global LLC now owns 7,275 shares of the auto parts company’s stock valued at $831,000 after purchasing an additional 5,165 shares during the period. Ascent Group LLC raised its stake in Lear by 8.9% during the 2nd quarter. Ascent Group LLC now owns 14,283 shares of the auto parts company’s stock worth $1,631,000 after buying an additional 1,172 shares during the period. Scientech Research LLC acquired a new stake in Lear in the second quarter valued at approximately $905,000. Millennium Management LLC increased its stake in Lear by 2,630.4% during the 2nd quarter. Millennium Management LLC now owns 161,422 shares of the auto parts company’s stock valued at $18,436,000 after purchasing an additional 155,510 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Lear during the second quarter worth about $635,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Down 0.2 %

Shares of Lear stock opened at $106.73 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear Co. has a 52-week low of $101.67 and a 52-week high of $147.11. The company’s 50 day moving average price is $110.13 and its 200-day moving average price is $119.86. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 earnings per share. Equities research analysts forecast that Lear Co. will post 12.49 EPS for the current year.

Lear Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group dropped their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Citigroup reduced their target price on Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, July 12th. UBS Group reduced their price target on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered their target price on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.55.

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.