Teacher Retirement System of Texas Has $1.87 Million Position in Lear Corporation (NYSE:LEA)

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

Several other hedge funds have also added to or reduced their stakes in LEA. Quadrant Capital Group LLC boosted its position in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after buying an additional 166 shares during the period. Putney Financial Group LLC acquired a new stake in Lear during the 4th quarter worth approximately $58,000. Fifth Third Bancorp boosted 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 worth $67,000 after buying an additional 435 shares during the period. CX Institutional acquired a new stake in Lear during the 1st quarter worth approximately $71,000. Finally, EverSource Wealth Advisors LLC boosted its position in Lear by 247.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock worth $75,000 after buying an additional 561 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group lifted their target price on shares of Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Citigroup raised their price target on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 30th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Barclays lowered shares of Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $108.55.

Lear Stock Performance

NYSE:LEA opened at $107.91 on Friday. The company has a fifty day moving average of $93.36 and a 200-day moving average of $92.04. The firm has a market capitalization of $5.77 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.60 and a beta of 1.29. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $126.85.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.48. The company 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 revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.18 EPS. As a group, sell-side analysts anticipate that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a yield of 2.85%. Lear's dividend payout ratio (DPR) is presently 36.11%.

Insider Buying and Selling

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business's 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 sale, the director owned 84 shares in the company, valued at approximately $7,800.24. The trade was a 93.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.

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