Lear Co. (NYSE:LEA) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Lear Co. (NYSE:LEA - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,059 shares of the auto parts company's stock after selling 17,424 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of Lear worth $4,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Lear during the fourth quarter valued at about $15,711,000. Mariner LLC boosted its holdings in shares of Lear by 13.7% in the 4th quarter. Mariner LLC now owns 7,290 shares of the auto parts company's stock valued at $690,000 after buying an additional 878 shares in the last quarter. Barclays PLC raised its stake in shares of Lear by 6.9% during the 4th quarter. Barclays PLC now owns 144,412 shares of the auto parts company's stock worth $13,676,000 after acquiring an additional 9,363 shares in the last quarter. Optimize Financial Inc purchased a new stake in Lear during the fourth quarter valued at approximately $453,000. Finally, Sterling Capital Management LLC grew its holdings in Lear by 47.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,265 shares of the auto parts company's stock worth $309,000 after purchasing an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insider Activity

In other news, Director Rod Lache acquired 2,178 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the purchase, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.91% of the company's stock.

Lear Stock Performance

Lear stock traded down $1.04 during mid-day trading on Wednesday, hitting $85.82. The company had a trading volume of 526,484 shares, compared to its average volume of 738,925. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.49 and a beta of 1.34. The company's fifty day moving average is $88.28 and its 200-day moving average is $94.00. Lear Co. has a 12-month low of $73.85 and a 12-month high of $133.56.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Equities research analysts predict that Lear Co. will post 12.89 EPS for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, March 6th. Lear's dividend payout ratio (DPR) is presently 34.45%.

Analyst Ratings Changes

Several research analysts recently issued reports on LEA shares. Barclays lowered Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. UBS Group cut their price objective on shares of Lear from $102.00 to $83.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company upped their price target on shares of Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Lear currently has an average rating of "Hold" and an average price target of $113.91.

About Lear

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.