Short Interest in Lear Co. (NYSE:LEA) Decreases By 10.3%

Lear Co. (NYSE:LEA) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,591,400 shares, a decrease of 10.3% from the April 30th total of 1,775,000 shares. Based on an average daily trading volume, of 655,700 shares, the short-interest ratio is currently 2.4 days. Approximately 2.6% of the shares of the stock are short sold.

NYSE:LEA traded up $4.99 during trading hours on Friday, hitting $136.42. 591,521 shares of the stock were exchanged, compared to its average volume of 516,889. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $133.06. The firm has a market cap of $8.18 billion, a P/E ratio of 7.49, a P/E/G ratio of 3.00 and a beta of 1.48. Lear has a 52-week low of $114.45 and a 52-week high of $192.73.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Lear had a net margin of 4.94% and a return on equity of 25.28%. Lear’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the company earned $5.10 earnings per share. As a group, sell-side analysts expect that Lear will post 17.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.20%. Lear’s dividend payout ratio (DPR) is 16.47%.

Several equities research analysts have recently issued reports on LEA shares. Argus started coverage on Lear in a research note on Thursday, March 28th. They issued a “hold” rating for the company. Longbow Research reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Lear in a research note on Sunday, June 30th. KeyCorp lowered their price objective on Lear from $185.00 to $170.00 and set an “overweight” rating for the company in a research note on Friday. They noted that the move was a valuation call. Deutsche Bank raised Arista Networks from a “sell” rating to a “hold” rating and raised their price objective for the company from $190.00 to $225.00 in a research note on Tuesday, March 19th. Finally, Morgan Stanley set a $12.00 price target on Adient and gave the stock a “sell” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $172.13.

Several institutional investors and hedge funds have recently made changes to their positions in LEA. Nissay Asset Management Corp Japan ADV lifted its position in Lear by 1.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 7,260 shares of the auto parts company’s stock valued at $985,000 after purchasing an additional 72 shares during the period. First Hawaiian Bank lifted its position in Lear by 8.8% in the first quarter. First Hawaiian Bank now owns 1,230 shares of the auto parts company’s stock valued at $167,000 after purchasing an additional 100 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in Lear by 3.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,730 shares of the auto parts company’s stock valued at $506,000 after purchasing an additional 131 shares during the period. Empirical Finance LLC lifted its position in shares of Lear by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 16,172 shares of the auto parts company’s stock valued at $2,252,000 after acquiring an additional 141 shares during the period. Finally, Lipe & Dalton lifted its position in shares of Lear by 5.0% during the 1st quarter. Lipe & Dalton now owns 3,475 shares of the auto parts company’s stock valued at $472,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

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 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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