Teacher Retirement System of Texas Sells 13,942 Shares of Lear Corporation (NYSE:LEA)

Teacher Retirement System of Texas lowered its position in Lear Corporation (NYSE:LEA - Free Report) by 39.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,178 shares of the auto parts company's stock after selling 13,942 shares during the quarter. Teacher Retirement System of Texas' holdings in Lear were worth $1,868,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Kendall Capital Management lifted its position in shares of Lear by 6.9% in the 1st quarter. Kendall Capital Management now owns 10,165 shares of the auto parts company's stock worth $897,000 after acquiring an additional 660 shares during the period. Highland Capital Management LLC lifted its holdings in shares of Lear by 22.5% during the 1st quarter. Highland Capital Management LLC now owns 2,981 shares of the auto parts company's stock worth $263,000 after acquiring an additional 547 shares during the period. Hunter Perkins Capital Management LLC lifted its holdings in shares of Lear by 9.1% during the 1st quarter. Hunter Perkins Capital Management LLC now owns 13,739 shares of the auto parts company's stock worth $1,212,000 after acquiring an additional 1,142 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Lear by 38.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,735 shares of the auto parts company's stock worth $4,035,000 after acquiring an additional 12,632 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Lear by 22.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 67,243 shares of the auto parts company's stock worth $5,932,000 after acquiring an additional 12,457 shares during the period. Institutional investors own 97.04% of the company's stock.

Insiders Place Their Bets

In related news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $92.86, for a total value of $110,224.82. Following the completion of the sale, the director owned 84 shares in the company, valued at approximately $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.91% of the stock is owned by corporate insiders.

Lear Price Performance

Shares of NYSE LEA traded down $0.92 during trading on Friday, reaching $106.75. The company had a trading volume of 510,748 shares, compared to its average volume of 714,517. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $126.85. The stock has a market cap of $5.71 billion, a PE ratio of 12.51, a PEG ratio of 0.60 and a beta of 1.29. 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 business's 50 day moving average price is $93.36 and its 200-day moving average price is $92.04.

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 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 company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the firm posted $3.18 earnings per share. The company's revenue was down 7.2% on a year-over-year basis. Analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's dividend payout ratio (DPR) is 36.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LEA shares. Bank of America raised their price objective on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Citigroup raised their target price on Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. raised their target price on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. UBS Group raised their target price on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Barclays downgraded shares of Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $108.55.

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.