Pensionfund Sabic reduced its position in Lear Co. (NYSE:LEA) by 27.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the auto parts company’s stock after selling 3,900 shares during the period. Pensionfund Sabic’s holdings in Lear were worth $1,430,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. First Interstate Bank increased its position in shares of Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the auto parts company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Lear by 65.9% in the third quarter. Global X Management Co. LLC now owns 934 shares of the auto parts company’s stock worth $113,000 after buying an additional 371 shares in the last quarter. Financial Architects Inc increased its position in shares of Lear by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the auto parts company’s stock worth $123,000 after buying an additional 1,000 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Lear during the fourth quarter worth approximately $124,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Lear during the fourth quarter valued at $139,000. Institutional investors and hedge funds own 97.32% of the company’s stock.
Lear Co. (NYSE:LEA) traded up 2.75% during mid-day trading on Thursday, hitting $140.33. 563,674 shares of the stock were exchanged. The company has a 50 day moving average price of $139.73 and a 200 day moving average price of $133.82. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 10.53 and a beta of 1.27. Lear Co. has a 52-week low of $97.35 and a 52-week high of $149.00.
Lear (NYSE:LEA) last released its earnings results on Thursday, January 26th. The auto parts company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.36. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.74 billion. Lear had a return on equity of 32.21% and a net margin of 5.25%. Lear’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.20 earnings per share. On average, analysts anticipate that Lear Co. will post $15.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Friday, March 3rd were issued a dividend of $0.50 per share. This is a positive change from Lear’s previous quarterly dividend of $0.30. This represents a $2.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, March 1st. Lear’s payout ratio is presently 9.00%.
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Several equities research analysts have recently weighed in on LEA shares. Barclays PLC upped their price target on shares of Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 12th. Zacks Investment Research raised shares of Lear from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Wednesday, February 1st. Berenberg Bank started coverage on shares of Lear in a research report on Friday, March 31st. They issued a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $148.00 price target on shares of Lear in a research report on Monday, April 10th. Finally, Robert W. Baird raised shares of Lear from a “neutral” rating to an “outperform” rating and increased their target price for the company from $160.00 to $161.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Lear currently has an average rating of “Hold” and an average target price of $143.36.
In related news, SVP Mel Stephens sold 21,132 shares of Lear stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $144.55, for a total transaction of $3,054,630.60. Following the transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $5,782,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas P. Capo sold 1,500 shares of Lear stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $146.31, for a total value of $219,465.00. Following the transaction, the director now directly owns 345 shares in the company, valued at $50,476.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 210,476 shares of company stock worth $30,080,372. 0.33% of the stock is owned by corporate insiders.
Lear Company Profile
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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