State of Alaska Department of Revenue Boosts Stock Position in Lear Corporation (NYSE:LEA)

State of Alaska Department of Revenue raised its holdings in Lear Corporation (NYSE:LEA - Free Report) by 62.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,283 shares of the auto parts company's stock after purchasing an additional 10,085 shares during the quarter. State of Alaska Department of Revenue's holdings in Lear were worth $2,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEA. Addison Advisors LLC raised 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 buying an additional 137 shares during the period. Quadrant Capital Group LLC raised 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 buying an additional 166 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Lear in the 4th quarter valued at $58,000. Fifth Third Bancorp raised its holdings in shares of Lear by 131.8% in 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 during the period. Finally, EverSource Wealth Advisors LLC raised 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 buying an additional 561 shares during the period. Hedge funds and other institutional investors own 97.04% of the company's stock.

Lear Stock Performance

Shares of NYSE LEA traded down $0.01 during trading hours on Monday, reaching $91.05. The stock had a trading volume of 530,127 shares, compared to its average volume of 715,958. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 0.51 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 Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $126.85. The firm has a 50-day moving average of $88.67 and a 200-day moving average of $91.69.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results 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. The firm had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. The business's revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.18 EPS. Equities research analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.38%. Lear's dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Lear from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Citigroup started coverage on Lear in a research note on Wednesday, April 23rd. They set a "buy" rating and a $123.00 target price for the company. Barclays cut Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. Morgan Stanley lowered their target price on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, TD Cowen cut Lear from a "buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Lear presently has a consensus rating of "Hold" and an average price target of $107.09.

Insider Activity at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 84 shares of the company's stock, valued at $7,800.24. This represents a 93.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.