Neuburgh Advisers LLC Lowers Stake in Lear Co. (NYSE:LEA)

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Neuburgh Advisers LLC cut its holdings in shares of Lear Co. (NYSE:LEA) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,144 shares of the auto parts company’s stock after selling 4,608 shares during the period. Neuburgh Advisers LLC’s holdings in Lear were worth $4,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its position in Lear by 59.7% in the fourth quarter. SG Americas Securities LLC now owns 6,674 shares of the auto parts company’s stock worth $820,000 after acquiring an additional 2,494 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Lear by 17.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,335 shares of the auto parts company’s stock worth $2,130,000 after acquiring an additional 2,585 shares in the last quarter. Parallel Advisors LLC grew its position in Lear by 16.9% in the fourth quarter. Parallel Advisors LLC now owns 1,257 shares of the auto parts company’s stock worth $154,000 after acquiring an additional 182 shares in the last quarter. Water Island Capital LLC purchased a new position in Lear in the fourth quarter worth $362,000. Finally, Oregon Public Employees Retirement Fund grew its position in Lear by 11,007.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 4,854,451 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

Lear stock traded down $0.21 during mid-day trading on Wednesday, hitting $136.42. The company’s stock had a trading volume of 6,744 shares, compared to its average volume of 698,452. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $8.43 billion, a PE ratio of 7.47, a P/E/G ratio of 3.03 and a beta of 1.40. Lear Co. has a 12 month low of $114.45 and a 12 month high of $204.57.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.06 by ($0.06). The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.25 billion. Lear had a return on equity of 25.28% and a net margin of 4.94%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.10 earnings per share. As a group, equities analysts expect that Lear Co. will post 17.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s dividend payout ratio is presently 16.47%.

Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Lear from $181.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Argus assumed coverage on shares of Lear in a research report on Thursday, March 28th. They issued a “hold” rating for the company. ValuEngine lowered shares of Lear from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Seaport Global Securities assumed coverage on shares of Lear in a research report on Wednesday, February 13th. They issued a “buy” rating and a $199.00 target price for the company. Finally, KeyCorp cut their target price on shares of Lear from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $175.07.

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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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