Diamond Hill Capital Management Inc. Sells 123,900 Shares of Lear Co. (NYSE:LEA)

Diamond Hill Capital Management Inc. lowered its position in Lear Co. (NYSE:LEA - Free Report) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,630,852 shares of the auto parts company's stock after selling 123,900 shares during the period. Diamond Hill Capital Management Inc. owned about 4.84% of Lear worth $287,157,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LEA. Allspring Global Investments Holdings LLC boosted its holdings in Lear by 14.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,101 shares of the auto parts company's stock worth $304,000 after buying an additional 273 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Lear by 16.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,197 shares of the auto parts company's stock valued at $1,043,000 after purchasing an additional 991 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Lear by 12.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,202 shares of the auto parts company's stock valued at $319,000 after purchasing an additional 240 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Lear by 10.0% during the first quarter. Oppenheimer & Co. Inc. now owns 6,072 shares of the auto parts company's stock valued at $880,000 after purchasing an additional 552 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Lear by 9.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,970 shares of the auto parts company's stock valued at $575,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Lear Trading Up 1.2 %

Shares of NYSE:LEA traded up $1.15 during trading hours on Monday, hitting $97.46. 234,759 shares of the company's stock traded hands, compared to its average volume of 655,832. Lear Co. has a 1 year low of $94.29 and a 1 year high of $147.11. The business has a fifty day moving average price of $105.34 and a 200-day moving average price of $114.92. The firm has a market capitalization of $5.30 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

Lear (NYSE:LEA - Get Free Report) last announced 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. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business earned $2.87 earnings per share. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. Equities analysts expect that Lear Co. will post 12.22 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear's dividend payout ratio is presently 32.39%.

Analysts Set New Price Targets

LEA has been the subject of a number of research analyst reports. TD Cowen cut their price objective on Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on Lear from $114.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Bank of America cut their price objective on Lear from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Barclays lowered Lear from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $140.00 to $120.00 in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $132.00 price target on shares of Lear in a research report on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Lear presently has an average rating of "Hold" and a consensus target price of $141.08.

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.