Retirement Systems of Alabama Sells 78,208 Shares of Lear Co. (NYSE:LEA)

Retirement Systems of Alabama lowered its stake in Lear Co. (NYSE:LEA - Free Report) by 54.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,074 shares of the auto parts company's stock after selling 78,208 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Lear worth $6,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LEA. Nisa Investment Advisors LLC boosted its holdings 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 worth $27,000 after purchasing an additional 187 shares during the period. Brooklyn Investment Group purchased a new position in shares of Lear during the third quarter valued at about $34,000. Blue Trust Inc. raised its stake in Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock worth $35,000 after buying an additional 214 shares in the last quarter. Signaturefd LLC boosted its position in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock valued at $36,000 after acquiring an additional 139 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock worth $39,000 after acquiring an additional 287 shares during the period. Institutional investors own 97.04% of the company's stock.

Analyst Ratings Changes

LEA has been the topic of several research reports. Barclays dropped their price target on Lear from $120.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. Evercore ISI reduced their target price on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research report on Monday. TD Cowen decreased their price target on shares of Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, October 25th. StockNews.com raised shares of Lear from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Lear has a consensus rating of "Hold" and an average target price of $127.00.

Lear Stock Down 0.0 %

Shares of Lear stock traded down $0.03 on Thursday, reaching $96.31. The company's stock had a trading volume of 732,070 shares, compared to its average volume of 723,389. Lear Co. has a 52 week low of $86.28 and a 52 week high of $147.11. The firm's fifty day simple moving average is $95.32 and its two-hundred day simple moving average is $102.37. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.62 and a beta of 1.42.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. Equities analysts anticipate that Lear Co. will post 13.29 earnings per share for the current year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, December 11th. Lear's dividend payout ratio (DPR) is presently 34.45%.

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.