Alps Advisors Inc. Buys 7,564 Shares of Lear Corporation (NYSE:LEA)

Alps Advisors Inc. grew its stake in Lear Corporation (NYSE:LEA - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,450 shares of the auto parts company's stock after purchasing an additional 7,564 shares during the period. Alps Advisors Inc. owned approximately 0.20% of Lear worth $9,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its position in shares of Lear by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock valued at $599,000 after acquiring an additional 152 shares during the period. Quadrant Capital Group LLC grew its position in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after acquiring an additional 166 shares during the last quarter. Wellington Management Group LLP increased its position in Lear by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company's stock valued at $351,000 after acquiring an additional 183 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Lear by 7.6% in the first quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock worth $317,000 after acquiring an additional 255 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in Lear by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 8,159 shares of the auto parts company's stock worth $720,000 after acquiring an additional 280 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Down 0.9%

LEA stock traded down $0.92 on Friday, reaching $106.75. 510,748 shares of the company traded hands, compared to its average volume of 714,932. The firm has a fifty day simple moving average of $93.36 and a 200-day simple moving average of $92.04. The company has a market cap of $5.71 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.60 and a beta of 1.29. Lear Corporation has a one year low of $73.85 and a one year high of $126.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.03.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.48. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. The company's revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $3.18 earnings per share. Research analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's payout ratio is 36.11%.

Analyst Ratings Changes

LEA has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Bank of America lifted their price objective on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Barclays cut Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Morgan Stanley reduced their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, The Goldman Sachs Group set a $88.00 price objective on Lear and gave the company a "neutral" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $108.55.

Insider Buying and Selling at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $92.86, for a total transaction of $110,224.82. Following the sale, the director directly owned 84 shares in the company, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by company insiders.

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.