Lear Co. (NYSE:LEA) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 79.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,142 shares of the auto parts company's stock after selling 43,705 shares during the quarter. Guggenheim Capital LLC's holdings in Lear were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in 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. Addison Advisors LLC raised its position in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after buying an additional 137 shares during the period. UMB Bank n.a. boosted its holdings in Lear by 233.3% in the fourth quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after acquiring an additional 287 shares during the last quarter. Brooklyn Investment Group grew its position in Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock valued at $40,000 after acquiring an additional 120 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Lear by 51.1% during the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after acquiring an additional 166 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Stock Up 3.0 %

Shares of NYSE:LEA opened at $80.90 on Wednesday. The firm has a market cap of $4.33 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.49 and a beta of 1.34. The company has a fifty day simple moving average of $89.74 and a 200 day simple moving average of $94.79. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear Co. has a 12-month low of $73.85 and a 12-month high of $138.69.

Lear (NYSE:LEA - Get Free Report) last released its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, equities research analysts anticipate that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Thursday, March 6th. Lear's dividend payout ratio is presently 34.45%.

Insider Transactions at Lear

In other Lear 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 transaction, the director now owns 2,178 shares in the company, valued at $199,940.40. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.91% of the company's stock.

Wall Street Analyst Weigh In

LEA has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Barclays downgraded shares of Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $84.00 price target (down from $117.00) on shares of Lear in a report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price objective on Lear from $99.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $114.27.

Lear 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.

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