State Board of Administration of Florida Retirement System Sells 1,880 Shares of Lear Co. (NYSE:LEA)

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State Board of Administration of Florida Retirement System lowered its holdings in shares of Lear Co. (NYSE:LEA) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,483 shares of the auto parts company’s stock after selling 1,880 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Lear worth $8,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in Lear during the second quarter valued at $55,000. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Lear by 50.5% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 700 shares of the auto parts company’s stock worth $76,000 after acquiring an additional 235 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Lear in the 2nd quarter worth about $92,000. Cerebellum GP LLC bought a new stake in shares of Lear in the 2nd quarter worth about $126,000. Finally, Creative Planning bought a new stake in shares of Lear in the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 94.65% of the company’s stock.

NYSE LEA opened at $139.18 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.31. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 79.08, a price-to-earnings-growth ratio of 2.56 and a beta of 1.58. The company’s 50-day simple moving average is $129.29 and its two-hundred day simple moving average is $115.66. Lear Co. has a one year low of $63.20 and a one year high of $144.66.

Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, November 4th. The auto parts company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.51. Lear had a net margin of 0.50% and a return on equity of 6.17%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the firm earned $3.54 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that Lear Co. will post 4.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Thursday, December 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, December 9th.

LEA has been the subject of several analyst reports. Benchmark raised their target price on shares of Lear from $130.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. KeyCorp raised their target price on shares of Lear from $135.00 to $148.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Citigroup lifted their price objective on shares of Lear from $104.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Barclays lifted their price objective on shares of Lear from $115.00 to $133.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lear from $125.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $128.94.

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, South America, and internationally. Its Seating segment offers leather and fabric products, seat covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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