Lear Co. (NYSE:LEA) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its position in Lear Co. (NYSE:LEA) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,964 shares of the auto parts company’s stock after selling 31,716 shares during the period. Neuberger Berman Group LLC owned 0.15% of Lear worth $9,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEA. Wells Fargo & Company MN increased its position in shares of Lear by 340.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,066,923 shares of the auto parts company’s stock valued at $86,686,000 after acquiring an additional 824,450 shares during the period. FMR LLC grew its position in Lear by 14.2% during the 2nd quarter. FMR LLC now owns 5,053,187 shares of the auto parts company’s stock worth $550,899,000 after purchasing an additional 628,787 shares during the period. APG Asset Management N.V. grew its position in Lear by 89.1% during the 1st quarter. APG Asset Management N.V. now owns 861,721 shares of the auto parts company’s stock worth $104,149,000 after purchasing an additional 405,925 shares during the period. Ardevora Asset Management LLP acquired a new stake in Lear during the 2nd quarter worth about $44,130,000. Finally, Balyasny Asset Management LLC grew its position in Lear by 410.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 364,542 shares of the auto parts company’s stock worth $39,742,000 after purchasing an additional 293,134 shares during the period. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lear stock opened at $109.16 on Wednesday. The firm has a market capitalization of $6.54 billion, a PE ratio of 44.56, a P/E/G ratio of 6.33 and a beta of 1.63. Lear Co. has a twelve month low of $63.20 and a twelve month high of $143.50. The firm’s 50-day moving average price is $116.84 and its 200 day moving average price is $104.50. The company has a current ratio of 1.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Lear (NYSE:LEA) last released its earnings results on Tuesday, August 4th. The auto parts company reported ($4.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($4.98) by $0.84. Lear had a net margin of 0.75% and a return on equity of 5.95%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the company posted $3.78 EPS. The business’s revenue was down 51.2% on a year-over-year basis. On average, sell-side analysts predict that Lear Co. will post 2.8 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on LEA shares. Deutsche Bank increased their target price on shares of Lear from $133.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Citigroup increased their target price on shares of Lear from $104.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Benchmark increased their target price on shares of Lear from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Barclays increased their target price on shares of Lear from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Finally, Credit Suisse Group increased their target price on shares of Lear from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $113.81.

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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

Recommended Story: What is a Real Estate Investment Trust (REIT)?

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.