Tidal Investments LLC Sells 3,736 Shares of Lear Co. (NYSE:LEA)

Tidal Investments LLC decreased its stake in Lear Co. (NYSE:LEA) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,195 shares of the auto parts company’s stock after selling 3,736 shares during the quarter. Tidal Investments LLC’s holdings in Lear were worth $894,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Lear during the 2nd quarter valued at $663,000. Fifth Third Wealth Advisors LLC bought a new stake in Lear during the second quarter valued at about $222,000. First Heartland Consultants Inc. lifted its position in shares of Lear by 40.8% in the second quarter. First Heartland Consultants Inc. now owns 5,209 shares of the auto parts company’s stock valued at $595,000 after acquiring an additional 1,509 shares in the last quarter. Bailard Inc. bought a new position in shares of Lear in the second quarter worth about $242,000. Finally, Access Investment Management LLC grew its position in shares of Lear by 45.0% during the second quarter. Access Investment Management LLC now owns 29,000 shares of the auto parts company’s stock worth $3,312,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Up 1.7 %

Shares of NYSE:LEA opened at $94.78 on Friday. Lear Co. has a 12 month low of $91.70 and a 12 month high of $147.11. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $99.13 and a 200 day moving average price of $108.91. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.60 and a beta of 1.45.

Lear (NYSE:LEA) last released its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 EPS. As a group, equities research analysts predict that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.25%. Lear’s dividend payout ratio is presently 32.39%.

Analyst Upgrades and Downgrades

LEA has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday. 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. 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 report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 price objective on shares of Lear in a report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $139.67.

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.