Lear Co. (NYSE:LEA) Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC reduced its position in shares of Lear Co. (NYSE:LEA) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,499 shares of the auto parts company’s stock after selling 223 shares during the period. Redmond Asset Management LLC’s holdings in Lear were worth $331,000 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. Creative Planning increased its position in Lear by 7.6% in the third quarter. Creative Planning now owns 5,133 shares of the auto parts company’s stock worth $560,000 after buying an additional 363 shares during the period. Blue Trust Inc. increased its position in Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after buying an additional 214 shares during the period. Raymond James & Associates increased its position in Lear by 7.7% in the third quarter. Raymond James & Associates now owns 104,679 shares of the auto parts company’s stock worth $11,426,000 after buying an additional 7,483 shares during the period. Allspring Global Investments Holdings LLC increased its position in Lear by 8.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock worth $251,000 after buying an additional 184 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new stake in Lear in the third quarter worth $224,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Trading Down 1.2 %

Shares of LEA stock opened at $96.43 on Friday. The stock has a 50-day simple moving average of $94.87 and a 200 day simple moving average of $101.45. Lear Co. has a fifty-two week low of $86.28 and a fifty-two week high of $147.11. The stock has a market capitalization of $5.17 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.49 and a beta of 1.42. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.

Lear (NYSE:LEA) last announced its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, sell-side analysts expect that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 6th will be given a $0.77 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. Lear’s dividend payout ratio (DPR) is 34.45%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LEA. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Barclays dropped their target price on Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $127.00.

Lear Company 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.