Lear Corporation (NYSE:LEA) Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Lear Corporation (NYSE:LEA - Free Report) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,311 shares of the auto parts company's stock after selling 5,512 shares during the period. New York State Teachers Retirement System owned 0.07% of Lear worth $3,468,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LEA. Schroder Investment Management Group bought a new stake in shares of Lear during the 4th quarter valued at about $90,700,000. Massachusetts Financial Services Co. MA grew its position in shares of Lear by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock valued at $209,531,000 after buying an additional 498,918 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Lear by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock valued at $614,782,000 after buying an additional 447,835 shares during the last quarter. First Trust Advisors LP grew its position in shares of Lear by 45.9% during the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock valued at $107,313,000 after buying an additional 356,760 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Lear during the 4th quarter valued at about $31,881,000. Institutional investors own 97.04% of the company's stock.

Insider Activity

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm's stock in a transaction dated 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 directly owned 84 shares in the company, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.91% of the stock is owned by insiders.

Lear Stock Down 0.8%

LEA stock opened at $102.78 on Tuesday. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $126.85. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. The firm's 50-day moving average is $92.10 and its two-hundred day moving average is $91.74. 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 earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, topping 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 business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the firm earned $3.18 EPS. The business's revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts forecast that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 36.11%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays downgraded shares of Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Citigroup boosted their target price on shares of Lear from $123.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of Lear from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Bank of America boosted their target price on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $108.55.

Lear Company 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.

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