Lear Co. (NYSE:LEA) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in Lear Co. (NYSE:LEA - Free Report) by 69.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 95,816 shares of the auto parts company's stock after selling 219,958 shares during the period. Ameriprise Financial Inc. owned about 0.18% of Lear worth $9,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEA. Nisa Investment Advisors LLC grew its stake in 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 acquiring an additional 187 shares during the period. Addison Advisors LLC boosted its holdings in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after purchasing an additional 287 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Lear by 51.1% in the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 166 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 247.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wells Fargo & Company lifted their price target on shares of Lear from $89.00 to $100.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. TD Cowen lowered shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a report on Friday, March 7th. Evercore ISI decreased their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $112.09.

Insider Transactions at Lear

In other Lear news, Director Rod Lache acquired 2,178 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the purchase, the director now directly owns 2,178 shares in the company, valued at $199,940.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company's stock.

Lear Stock Down 1.6%

Lear stock traded down $1.46 during midday trading on Monday, hitting $89.08. 694,944 shares of the stock were exchanged, compared to its average volume of 738,810. The company has a 50 day moving average price of $86.58 and a two-hundred day moving average price of $92.64. The firm has a market cap of $4.76 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.49 and a beta of 1.30. Lear Co. has a 1 year low of $73.85 and a 1 year high of $127.58. 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 released its earnings results 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. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. The company's revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.18 EPS. On average, sell-side analysts predict that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's payout ratio is currently 36.11%.

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.