PNC Financial Services Group Inc. increased its holdings in Lear Co. (NYSE:LEA) by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,169 shares of the auto parts company’s stock after acquiring an additional 5,231 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of Lear worth $5,044,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Gabelli Funds LLC raised its holdings in Lear by 7.5% in the 4th quarter. Gabelli Funds LLC now owns 8,600 shares of the auto parts company’s stock worth $1,057,000 after purchasing an additional 600 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Lear by 18.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,091 shares of the auto parts company’s stock worth $257,000 after purchasing an additional 331 shares in the last quarter. SG Americas Securities LLC raised its holdings in Lear by 59.7% in the 4th quarter. SG Americas Securities LLC now owns 6,674 shares of the auto parts company’s stock worth $820,000 after purchasing an additional 2,494 shares in the last quarter. Regal Investment Advisors LLC grew its position in shares of Lear by 6.1% in the 4th quarter. Regal Investment Advisors LLC now owns 10,419 shares of the auto parts company’s stock worth $1,280,000 after buying an additional 600 shares during the period. Finally, Dearborn Partners LLC grew its position in shares of Lear by 66.6% in the 4th quarter. Dearborn Partners LLC now owns 2,963 shares of the auto parts company’s stock worth $364,000 after buying an additional 1,184 shares during the period. 89.15% of the stock is owned by institutional investors.
NYSE:LEA traded down $0.93 during trading hours on Monday, reaching $138.34. The company had a trading volume of 841,212 shares, compared to its average volume of 683,040. Lear Co. has a 1-year low of $114.45 and a 1-year high of $192.73. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 3.19 and a beta of 1.48. The stock has a 50 day moving average price of $132.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.34.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.17%. The ex-dividend date was Thursday, June 6th. Lear’s dividend payout ratio is currently 16.47%.
Several analysts recently commented on LEA shares. Morgan Stanley cut their price objective on shares of Lear from $181.00 to $174.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Argus initiated coverage on shares of Lear in a report on Thursday, March 28th. They set a “hold” rating on the stock. Credit Suisse Group started coverage on shares of Lear in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $155.00 price objective on the stock. Longbow Research set a $190.00 price objective on shares of Lear and gave the company a “buy” rating in a report on Monday, June 24th. Finally, ValuEngine raised shares of Lear from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $173.13.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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