Bank of Montreal Can Reduces Holdings in Lear Co. (NYSE:LEA)

Bank of Montreal Can cut its holdings in Lear Co. (NYSE:LEA - Free Report) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,754 shares of the auto parts company's stock after selling 3,504 shares during the period. Bank of Montreal Can's holdings in Lear were worth $1,113,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LEA. Nisa Investment Advisors LLC boosted its position in shares of Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock valued at $27,000 after buying an additional 187 shares during the period. Addison Advisors LLC grew its stake in Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. raised its position in shares of Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after purchasing an additional 287 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock worth $40,000 after purchasing an additional 120 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Lear in the 3rd quarter valued at about $50,000. Institutional investors own 97.04% of the company's stock.

Insider Transactions at Lear

In related news, Director Rod Lache purchased 2,178 shares of Lear stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the purchase, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.91% of the company's stock.

Lear Stock Performance

Shares of NYSE:LEA traded up $2.53 on Thursday, hitting $84.53. 101,780 shares of the company were exchanged, compared to its average volume of 743,439. The company's 50 day moving average price is $89.45 and its two-hundred day moving average price is $94.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear Co. has a one year low of $73.85 and a one year high of $138.69. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.49 and a beta of 1.34.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Research analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Thursday, March 6th. Lear's dividend payout ratio (DPR) is presently 34.45%.

Analyst Ratings Changes

Several equities research analysts have commented on LEA shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $84.00 price objective (down from $117.00) on shares of Lear in a research note on Thursday, April 10th. Cowen lowered Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Barclays downgraded Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, Evercore ISI lowered their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $113.91.

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.