Illinois Municipal Retirement Fund Acquires 12,632 Shares of Lear Corporation (NYSE:LEA)

Illinois Municipal Retirement Fund raised its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 38.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,735 shares of the auto parts company's stock after purchasing an additional 12,632 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.09% of Lear worth $4,035,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in Lear by 51.1% in the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after purchasing an additional 166 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Lear in the fourth quarter worth about $58,000. Fifth Third Bancorp increased its position in Lear by 131.8% during the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock valued at $67,000 after buying an additional 435 shares in the last quarter. CX Institutional purchased a new position in Lear during the first quarter valued at $71,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Lear by 247.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock worth $75,000 after acquiring an additional 561 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Lear Price Performance

Shares of NYSE:LEA traded up $0.63 during mid-day trading on Monday, reaching $94.95. The stock had a trading volume of 995,029 shares, compared to its average volume of 712,155. The business's 50 day moving average price is $89.85 and its 200 day moving average price is $91.46. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $126.85. The company has a market cap of $5.08 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 0.53 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

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

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's dividend payout ratio (DPR) is 36.11%.

Analyst Upgrades and Downgrades

LEA has been the topic of several analyst reports. Barclays downgraded shares of Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. TD Cowen cut shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 target price on the stock. in a research note on Friday, March 7th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company raised their price target on Lear from $89.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Lear currently has a consensus rating of "Hold" and an average price target of $108.27.

Insider Buying and Selling at Lear

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

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.