Ameriprise Financial Inc. Has $9.07 Million Stake in Lear Co. (NYSE:LEA)

Ameriprise Financial Inc. decreased its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 69.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,816 shares of the auto parts company's stock after selling 219,958 shares during the quarter. Ameriprise Financial Inc. owned about 0.18% of Lear worth $9,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock worth $27,000 after purchasing an additional 187 shares in the last quarter. Addison Advisors LLC lifted its stake in Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. lifted its stake in Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after acquiring an additional 287 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock valued at $46,000 after acquiring an additional 166 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Lear by 247.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock valued at $75,000 after acquiring an additional 561 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Trading Down 0.2%

Shares of Lear stock opened at $93.87 on Wednesday. The stock has a fifty day moving average price of $87.04 and a 200-day moving average price of $92.85. Lear Co. has a 1 year low of $73.85 and a 1 year high of $128.33. The firm has a market cap of $5.02 billion, a PE ratio of 10.50, a P/E/G ratio of 0.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.48. Lear had a return on equity of 14.70% and a net margin of 2.17%. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the firm posted $3.18 EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts anticipate that Lear Co. will post 12.89 EPS for the current year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 36.11%.

Wall Street Analyst Weigh In

LEA has been the topic of several recent analyst reports. Cowen cut Lear from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group raised their price objective on Lear from $83.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price objective on Lear from $89.00 to $100.00 and gave the company an "equal weight" rating in a research note on Monday. Evercore ISI dropped their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen cut Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Lear presently has a consensus rating of "Hold" and an average price target of $112.09.

Insider Buying and Selling

In related news, Director Rod Lache bought 2,178 shares of Lear stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the acquisition, the director now directly owns 2,178 shares of the company's stock, valued at $199,940.40. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is currently owned by insiders.

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.

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