Financiere des Professionnels Fonds d investissement inc. Has $3.73 Million Position in Lear Corporation (NYSE:LEA)

Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of Lear Corporation (NYSE:LEA) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,328 shares of the auto parts company’s stock after purchasing an additional 4,096 shares during the period. Financiere des Professionnels Fonds d investissement inc. owned approximately 0.08% of Lear worth $3,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LEA. Steward Partners Investment Advisory LLC boosted its stake in Lear by 9.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,221 shares of the auto parts company’s stock worth $305,000 after purchasing an additional 282 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lear by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 495,764 shares of the auto parts company’s stock worth $46,949,000 after buying an additional 27,901 shares during the period. Victory Capital Management Inc. boosted its position in shares of Lear by 27.9% during the fourth quarter. Victory Capital Management Inc. now owns 27,143 shares of the auto parts company’s stock worth $2,570,000 after buying an additional 5,922 shares during the period. Assetmark Inc. grew its holdings in shares of Lear by 5.9% during the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company’s stock worth $873,000 after buying an additional 515 shares in the last quarter. Finally, M&T Bank Corp raised its position in Lear by 13.1% in the 4th quarter. M&T Bank Corp now owns 3,600 shares of the auto parts company’s stock valued at $341,000 after buying an additional 418 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LEA shares. Citigroup increased their target price on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Wall Street Zen raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Barclays cut shares of Lear from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. Morgan Stanley cut their price objective on Lear from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased their price target on Lear from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.55.

Insider Activity

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of Lear stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the completion of the sale, the director directly owned 84 shares in the company, valued at approximately $7,800.24. The trade was a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.91% of the stock is currently owned by insiders.

Lear Stock Performance

NYSE:LEA opened at $103.58 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $91.74 and a 200 day simple moving average of $91.69. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $126.85. The stock has a market cap of $5.54 billion, a P/E ratio of 12.14, a PEG ratio of 0.58 and a beta of 1.29.

Lear (NYSE:LEA) last posted its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.48. Lear had a return on equity of 14.53% and a net margin of 2.09%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm earned $3.18 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. Research analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, June 5th. Lear’s dividend payout ratio is currently 36.11%.

Lear Profile

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.