Mn Services Vermogensbeheer B.V. grew its holdings in Lear Co. (NYSE:LEA) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,085 shares of the auto parts company’s stock after purchasing an additional 400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Lear were worth $1,191,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC purchased a new stake in shares of Lear during the fourth quarter worth $32,000. IMS Capital Management purchased a new stake in shares of Lear during the third quarter worth $38,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 4,854,451 shares in the last quarter. Rational Advisors LLC purchased a new stake in shares of Lear during the fourth quarter worth $49,000. Finally, Daiwa SB Investments Ltd. raised its holdings in shares of Lear by 7.8% during the fourth quarter. Daiwa SB Investments Ltd. now owns 1,250 shares of the auto parts company’s stock worth $154,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 96.21% of the company’s stock.
LEA has been the subject of several recent research reports. Buckingham Research upgraded Lear from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. UBS Group increased their price objective on Lear from $143.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, January 16th. Deutsche Bank initiated coverage on Lear in a report on Thursday, December 13th. They set a “buy” rating for the company. Morgan Stanley set a $185.00 price objective on Lear and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, KeyCorp initiated coverage on Lear in a report on Monday, December 10th. They set an “overweight” rating and a $178.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $181.07.
Lear stock opened at $145.01 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.13 and a current ratio of 1.40. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 3.46 and a beta of 1.40. Lear Co. has a one year low of $114.45 and a one year high of $206.36.
Lear (NYSE:LEA) last posted its earnings results on Friday, January 25th. The auto parts company reported $4.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.96 by $0.09. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lear had a net margin of 5.37% and a return on equity of 27.12%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.38 earnings per share. On average, sell-side analysts predict that Lear Co. will post 17.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.07%. This is an increase from Lear’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, February 28th. Lear’s dividend payout ratio is presently 15.37%.
Lear announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 7th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the auto parts company to purchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
Further Reading: Cost of Debt
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