New York State Teachers Retirement System Purchases 5,255 Shares of Lear Co. (NYSE:LEA)

New York State Teachers Retirement System increased its holdings in shares of Lear Co. (NYSE:LEA - Free Report) by 13.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 43,949 shares of the auto parts company's stock after purchasing an additional 5,255 shares during the period. New York State Teachers Retirement System owned 0.08% of Lear worth $4,797,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Lear in the 1st quarter worth about $29,000. Altshuler Shaham Ltd bought a new position in shares of Lear in the second quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Blue Trust Inc. lifted its position in Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock worth $35,000 after purchasing an additional 214 shares during the period. Finally, Signaturefd LLC grew its stake in Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock worth $36,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LEA shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price target on shares of Lear from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Evercore ISI lowered their price objective on shares of Lear from $155.00 to $145.00 and set an "in-line" rating for the company in a research report on Monday, July 15th. StockNews.com lowered shares of Lear from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company dropped their price target on Lear from $114.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. 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, the company presently has a consensus rating of "Hold" and a consensus price target of $141.08.

Lear Stock Performance

NYSE LEA traded up $0.88 during trading hours on Wednesday, reaching $96.79. 1,309,455 shares of the company were exchanged, compared to its average volume of 659,103. The stock has a market capitalization of $5.26 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.54 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. Lear Co. has a 1 year low of $94.29 and a 1 year high of $147.11. The business's 50 day simple moving average is $106.51 and its 200-day simple moving average is $115.71.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly 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 net margin of 2.33% and a return on equity of 14.68%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business posted $2.87 EPS. Lear's quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Lear Co. will post 12.15 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 3.18%. Lear's payout ratio is 32.39%.

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.