Natixis Advisors LLC Has $5.29 Million Holdings in Lear Corporation (NYSE:LEA)

Key Points

• Natixis Advisors LLC reduced its stake in Lear Corporation by 17.2%, owning 59,912 shares valued at $5.29 million after selling 12,482 shares in the first quarter.
• In the last quarter, Lear Corporation reported earnings of $3.47 per share, exceeding analyst expectations of $3.23, with revenue of $6.03 billion.
• The company also declared a quarterly dividend of $0.77 per share, reflecting an annualized dividend yield of 3.2% and a payout ratio of 35.94%.

Natixis Advisors LLC decreased its holdings in Lear Corporation (NYSE:LEA - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,912 shares of the auto parts company's stock after selling 12,482 shares during the quarter. Natixis Advisors LLC owned 0.11% of Lear worth $5,285,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in 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 in the last quarter. Putney Financial Group LLC acquired a new stake in shares of Lear in the 4th quarter worth approximately $58,000. Fifth Third Bancorp boosted its holdings in shares of Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock valued at $67,000 after acquiring an additional 435 shares in the last quarter. CX Institutional acquired a new position in shares of Lear during the first quarter valued at approximately $71,000. Finally, GAMMA Investing LLC raised its holdings in Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock worth $83,000 after purchasing an additional 344 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Trading Up 0.5%

LEA stock traded up $0.46 during mid-day trading on Wednesday, reaching $95.13. 506,738 shares of the stock traded hands, compared to its average volume of 706,661. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $119.10. The stock's fifty day moving average is $97.12 and its 200-day moving average is $92.98. The company has a market cap of $5.06 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.58 and a beta of 1.30. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The firm's revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 35.94%.

Analyst Ratings Changes

LEA has been the subject of a number of research reports. Bank of America increased their price target on Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Morgan Stanley cut their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Citigroup lifted their target price on Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded shares of Lear from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company raised their price objective on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lear currently has an average rating of "Hold" and a consensus target price of $113.00.

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $110,224.82. Following the sale, the director directly owned 84 shares of the company's stock, valued at approximately $7,800.24. The trade was a 93.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,187 shares of company stock worth $1,086,425. 0.91% of the stock is owned by company insiders.

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.