Arrowstreet Capital Limited Partnership decreased its holdings in shares of Lear Corporation (NYSE:LEA - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,205 shares of the auto parts company's stock after selling 155,970 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.72% of Lear worth $43,493,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. raised its holdings in Lear by 15.0% during the fourth quarter. UMB Bank n.a. now owns 676 shares of the auto parts company's stock valued at $77,000 after buying an additional 88 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in shares of Lear by 0.5% during the 1st quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company's stock valued at $2,107,000 after acquiring an additional 89 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of Lear by 4.5% in the 4th quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company's stock valued at $246,000 after acquiring an additional 92 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Lear by 4.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company's stock worth $274,000 after purchasing an additional 99 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Lear by 32.0% in the fourth quarter. Allworth Financial LP now owns 408 shares of the auto parts company's stock worth $47,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.
Lear Price Performance
Shares of LEA stock opened at $145.05 on Tuesday. Lear Corporation has a 12 month low of $91.67 and a 12 month high of $150.33. The company has a market capitalization of $7.27 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.69 and a beta of 1.25. The stock has a 50 day moving average of $139.41 and a two-hundred day moving average of $130.63. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.
Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.36. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.Lear's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.12 earnings per share. As a group, equities analysts expect that Lear Corporation will post 14.81 EPS for the current year.
Lear Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.1%. Lear's payout ratio is presently 30.80%.
Insider Buying and Selling at Lear
In other news, CFO Jason M. Cardew sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares in the company, valued at approximately $1,953,047.50. This represents a 27.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Raymond E. Scott sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the completion of the transaction, the chief executive officer directly owned 49,789 shares of the company's stock, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is currently owned by company insiders.
Analyst Ratings Changes
LEA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a research report on Monday, May 4th. Royal Bank Of Canada lifted their price objective on Lear from $138.00 to $143.00 and gave the stock a "sector perform" rating in a research note on Monday, July 13th. Barclays increased their target price on Lear from $150.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. The Goldman Sachs Group lifted their price target on Lear from $115.00 to $131.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Finally, TD Cowen upgraded Lear from a "hold" rating to a "buy" rating and upped their price target for the stock from $138.00 to $165.00 in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $144.62.
Read Our Latest Stock Analysis on LEA
Lear Profile
(
Free Report)
Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.
The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.
Further Reading
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