Public Employees Retirement Association of Colorado boosted its position in shares of Lear Co. (NYSE:LEA) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 12,930 shares of the auto parts company’s stock after purchasing an additional 433 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Lear were worth $2,284,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in Lear by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 84 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Lear during the 4th quarter valued at about $126,000. IFM Investors Pty Ltd purchased a new stake in Lear during the 4th quarter valued at about $204,000. Crossmark Global Holdings Inc. purchased a new stake in Lear during the 3rd quarter valued at about $210,000. Finally, Calamos Advisors LLC purchased a new stake in Lear during the 3rd quarter valued at about $216,000. 92.28% of the stock is currently owned by institutional investors.
In other news, SVP Mel Stephens sold 796 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total value of $142,484.00. Following the transaction, the senior vice president now owns 40,000 shares in the company, valued at approximately $7,160,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now owns 6,912 shares in the company, valued at approximately $1,228,538.88. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.25 by $0.13. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.27 billion. Lear had a net margin of 6.42% and a return on equity of 30.32%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.80 EPS. sell-side analysts forecast that Lear Co. will post 18.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Lear’s previous quarterly dividend of $0.50. Lear’s dividend payout ratio (DPR) is presently 10.54%.
Several brokerages recently commented on LEA. Citigroup reissued a “buy” rating and set a $234.00 price objective (up from $202.00) on shares of Lear in a research report on Wednesday. ValuEngine raised shares of Lear from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Deutsche Bank raised shares of Lear from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Lear from a “hold” rating to a “buy” rating and set a $221.00 price objective on the stock in a research report on Thursday, February 1st. Finally, Goldman Sachs Group raised shares of Lear from a “sell” rating to a “neutral” rating and set a $187.00 price objective on the stock in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Lear currently has a consensus rating of “Buy” and a consensus target price of $192.06.
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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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