Rational Advisors LLC Cuts Stake in Lear Corporation (LEA)
Rational Advisors LLC cut its position in Lear Corporation (NYSE:LEA) by 52.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,600 shares of the auto parts company’s stock after selling 1,800 shares during the period. Rational Advisors LLC’s holdings in Lear Corporation were worth $277,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in Lear Corporation by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after acquiring an additional 48 shares during the period. Toronto Dominion Bank grew its holdings in Lear Corporation by 10.9% during the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after acquiring an additional 84 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in Lear Corporation during the second quarter worth about $126,000. Global X Management Co. LLC grew its holdings in Lear Corporation by 16.5% during the second quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after acquiring an additional 145 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Lear Corporation by 3.9% during the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after acquiring an additional 42 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lear Corporation (LEA) traded down $0.09 during mid-day trading on Tuesday, reaching $176.75. The company’s stock had a trading volume of 102,126 shares, compared to its average volume of 675,771. The stock has a market capitalization of $11,820.00, a P/E ratio of 10.65, a P/E/G ratio of 1.46 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. Lear Corporation has a 52 week low of $124.90 and a 52 week high of $178.80.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.13%. Lear Corporation’s dividend payout ratio (DPR) is presently 12.22%.
Several research firms recently commented on LEA. Barclays PLC set a $171.00 target price on Lear Corporation and gave the stock a “hold” rating in a report on Friday, October 20th. Zacks Investment Research raised Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a report on Wednesday, October 18th. Jefferies Group LLC began coverage on Lear Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $197.00 target price on the stock. KeyCorp raised their target price on Lear Corporation from $180.00 to $184.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Lear Corporation presently has an average rating of “Hold” and an average target price of $173.13.
In other news, SVP Mel Stephens sold 2,411 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $172.88, for a total value of $416,813.68. Following the transaction, the senior vice president now owns 44,484 shares in the company, valued at $7,690,393.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan F. Foster sold 2,854 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total value of $494,855.06. Following the completion of the transaction, the director now owns 7,761 shares in the company, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,404 shares of company stock worth $1,601,681. Company insiders own 0.49% of the company’s stock.
About Lear Corporation
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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