Olympiad Research LP Sells 453 Shares of Lear Co. (NYSE:LEA)

Olympiad Research LP cut its stake in shares of Lear Co. (NYSE:LEA) by 11.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,472 shares of the auto parts company’s stock after selling 453 shares during the quarter. Olympiad Research LP’s holdings in Lear were worth $379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Lear during the second quarter valued at $26,000. Headlands Technologies LLC bought a new position in shares of Lear during the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after buying an additional 139 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LEA has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company dropped their price objective on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Wolfe Research initiated coverage on Lear in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays cut Lear from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. Finally, Evercore ISI dropped their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.08.

Lear Stock Up 0.1 %

LEA stock opened at $96.92 on Friday. Lear Co. has a twelve month low of $94.29 and a twelve month high of $147.11. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.27 billion, a P/E ratio of 10.19, a PEG ratio of 0.54 and a beta of 1.46. The business’s 50-day moving average price is $105.75 and its 200-day moving average price is $115.45.

Lear (NYSE:LEA) last issued its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.87 EPS. On average, equities research analysts forecast that Lear Co. will post 12.15 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is presently 32.39%.

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 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.