State Street Corp Decreases Stock Holdings in Lear Co. (NYSE:LEA)

State Street Corp trimmed its position in shares of Lear Co. (NYSE:LEA - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,950,072 shares of the auto parts company's stock after selling 73,233 shares during the period. State Street Corp owned 3.59% of Lear worth $212,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of LEA. EverSource Wealth Advisors LLC boosted its holdings in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock worth $32,000 after buying an additional 110 shares during the period. Quarry LP grew its position in shares of Lear by 13.8% in the third quarter. Quarry LP now owns 1,105 shares of the auto parts company's stock valued at $121,000 after purchasing an additional 134 shares in the last quarter. Signaturefd LLC raised its stake in shares of 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 purchasing an additional 139 shares during the period. Systematic Financial Management LP lifted its holdings in Lear by 1.0% during the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company's stock worth $1,866,000 after purchasing an additional 155 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Lear by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company's stock worth $251,000 after purchasing an additional 184 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Stock Performance

LEA stock traded down $1.03 on Thursday, hitting $100.79. The company had a trading volume of 271,682 shares, compared to its average volume of 665,043. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.59 and a beta of 1.45. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock's 50-day simple moving average is $100.36 and its 200 day simple moving average is $110.00. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11.

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, topping 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 for the quarter, compared to analysts' expectations of $5.52 billion. During the same period last year, the firm posted $2.87 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts expect that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.06%. Lear's payout ratio is presently 32.39%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LEA shares. Wolfe Research initiated coverage on shares of Lear in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. The Goldman Sachs Group decreased their price target on shares of Lear from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. TD Cowen cut their target price on shares of Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Barclays downgraded Lear from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price target on Lear from $162.00 to $160.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Eight research 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 stock presently has a consensus rating of "Hold" and a consensus price target of $140.25.

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.