UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Lear Co. (NYSE:LEA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Lear Co. (NYSE:LEA) by 19.1% during the third quarter, Holdings Channel.com reports. The firm owned 146,466 shares of the auto parts company’s stock after selling 34,589 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lear were worth $15,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Lear by 151.9% during the 2nd quarter. SG Americas Securities LLC now owns 6,049 shares of the auto parts company’s stock valued at $691,000 after acquiring an additional 3,648 shares during the last quarter. Greenhaven Associates Inc. increased its stake in shares of Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after acquiring an additional 17,820 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Lear by 8.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 101,138 shares of the auto parts company’s stock valued at $11,551,000 after acquiring an additional 7,556 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lear during the 2nd quarter valued at about $663,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Lear during the 2nd quarter valued at about $222,000. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Lear Trading Down 0.2 %

LEA opened at $99.87 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.59 and a beta of 1.45. The firm’s 50 day moving average is $100.73 and its 200-day moving average is $110.61. Lear Co. has a 52-week low of $92.14 and a 52-week high of $147.11. 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 (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts expect that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Wednesday, December 11th. Lear’s payout ratio is currently 32.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LEA shares. The Goldman Sachs Group dropped their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley dropped their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company dropped their target price on shares of 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 dropped their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Wolfe Research began coverage on shares of Lear in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $140.25.

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.