Lear Co. holdings. (NYSE:LEA) fell by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Lear Co. stock. (NYSE:LEA – Free Report) by 83.7% in the second quarter, HoldingsChannel reports. The fund owned 28,241 shares of the auto parts company’s stock after selling 145,345 shares during the quarter. Holdings of Sumitomo Mitsui Trust Holdings Inc. in Lear were worth $3,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEA. Assenagon Asset Management SA acquired a new stake in shares of Lear in the second quarter valued at about $663,000. Wedge Capital Management LLP NC boosted its holdings in Lear by 8.1% in the second quarter. Wedge Capital Management LLP NC now owns 101,138 shares of the auto parts company’s stock worth $11,551,000 after purchasing an additional 7,556 shares during the last quarter. Greenhaven Associates Inc. grew its position in Lear by 1.0% in the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after acquiring an additional 17,820 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Lear by 151.9% in the second quarter. SG Americas Securities LLC now owns 6,049 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 3,648 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Lear by 5.0% during the 2nd quarter. CX Institutional now owns 23,241 shares of the auto parts company’s stock valued at $2,654,000 after buying another 1,108 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s shares.

Insider trading at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.79% of shares are held by insiders.

Changes in Analyst Ratings

A number of equities research analysts have recently issued reports on LEA shares. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Bank of America decreased their price objective on Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. UBS Group dropped their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Evercore ISI reduced their price objective on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus price target of $153.56, according to MarketBeat.com.

See the latest stock analysis on LEA

Lear stock 1.1%

NYSE LEA opened at $115.18 on Thursday. Lear Co. has a 12-month low of $107.25 and a 12-month high of $147.57. The stock has a market cap of $6.54 billion, a PE ratio of 12.56, a PEG ratio of 0.36 and a beta of 1.47. The firm has a 50-day simple moving average of $115.75 and a 200-day simple moving average of $127.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04, and a current ratio of 1.34.

Lear (NYSE:LEA – Get Your Free Report ) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.26. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. Lear’s revenue for the quarter was up 0.2% compared to the same quarter last year. In the same quarter last year, the firm earned $3.33 EPS. On average, research analysts estimate that Lear Co. will post 13.13 EPS for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th will be given a $0.77 dividend. This represents a dividend of $3.08 on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, September 4th. Lear’s dividend payout ratio is 33.59%.

About Lear

(Free Report)

Lear Corporation designs, develops, engineers, manufactures, assembles and supplies automotive seats and electrical distribution systems and related components to automotive original equipment manufacturers in North America, Europe, Africa, Asia and South America. Its seating segment offers seat systems, seat subsystems, key seat components, seat covers, seat mechanisms, seat foam and headrests, as well as surface materials such as leather and fabric for automobiles and light trucks, compact cars, vans. , and sport utility vehicles.

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