CenterBook Partners LP Sells 8,097 Shares of Lear Corporation (NYSE:LEA)

CenterBook Partners LP lowered its holdings in Lear Corporation (NYSE:LEA - Free Report) by 67.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,897 shares of the auto parts company's stock after selling 8,097 shares during the quarter. CenterBook Partners LP's holdings in Lear were worth $344,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its holdings in shares of Lear by 2.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock valued at $599,000 after purchasing an additional 152 shares during the last quarter. Quadrant Capital Group LLC lifted 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. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 183 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Lear by 7.6% in the 1st quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock valued at $317,000 after purchasing an additional 255 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Lear by 7.8% during the 1st quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company's stock valued at $315,000 after acquiring an additional 257 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Price Performance

Lear stock traded down $1.85 during trading hours on Friday, hitting $104.01. 493,779 shares of the stock were exchanged, compared to its average volume of 708,481. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32. The stock has a market capitalization of $5.56 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.56 and a beta of 1.29. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $125.09. The business's 50-day moving average is $95.54 and its two-hundred day moving average is $92.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $0.48. Lear had a net margin of 2.09% and a return on equity of 14.53%. The firm had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the firm earned $3.18 earnings per share. The business's revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts expect that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's dividend payout ratio is 36.11%.

Insider Transactions at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the transaction, the director directly owned 84 shares of the company's stock, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LEA shares. JPMorgan Chase & Co. increased their target price on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group set a $88.00 target price on Lear and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group restated a "neutral" rating and set a $116.00 price objective (up previously from $95.00) on shares of Lear in a report on Monday, July 14th. Bank of America raised their price objective on Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company lifted their target price on Lear from $100.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Lear currently has a consensus rating of "Hold" and an average target price of $113.64.

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.