Ruffer LLP Takes $4.40 Million Position in Lear Corporation $LEA

Key Points

• Ruffer LLP bought 38,300 shares of Lear in Q4 — a new position valued at about $4.40 million, representing roughly 0.07% of the company.
• Corporate insiders sold a total of 25,264 shares worth ~$3.4 million over the last quarter, leaving insiders with about 1.02% ownership while institutions hold ~97.04%.
• Lear recently beat Q4 estimates with $3.41 EPS versus $2.67 expected and $5.99B revenue, pays a $0.77 quarterly dividend (2.4% yield), and carries a consensus analyst rating of "Hold" with an average price target of $134.92.

Ruffer LLP acquired a new stake in Lear Corporation (NYSE:LEA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 38,300 shares of the auto parts company's stock, valued at approximately $4,396,000. Ruffer LLP owned approximately 0.07% of Lear as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEA. Jones Financial Companies Lllp increased its stake in Lear by 5,205.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company's stock valued at $604,000 after purchasing an additional 7,131 shares in the last quarter. United Services Automobile Association bought a new stake in Lear during the 1st quarter valued at $267,000. Empowered Funds LLC bought a new stake in Lear during the 1st quarter valued at $256,000. EverSource Wealth Advisors LLC increased its stake in Lear by 37.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company's stock valued at $92,000 after purchasing an additional 262 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Lear by 9.5% during the 2nd quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company's stock valued at $408,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Insider Activity at Lear

In related news, VP Marianne Vidershain sold 1,590 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the transaction, the vice president directly owned 1,862 shares of the company's stock, valued at approximately $251,370. The trade was a 46.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Alicia J. Davis sold 6,630 shares of the business's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $132.98, for a total transaction of $881,657.40. Following the completion of the transaction, the senior vice president directly owned 9,972 shares in the company, valued at $1,326,076.56. This trade represents a 39.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,264 shares of company stock valued at $3,400,687 over the last quarter. Corporate insiders own 1.02% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on LEA shares. Wells Fargo & Company decreased their price target on shares of Lear from $131.00 to $126.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $120.00 price objective on shares of Lear in a report on Friday. UBS Group cut their price objective on shares of Lear from $145.00 to $135.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Citigroup lifted their price objective on shares of Lear from $146.00 to $177.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Finally, Bank of America initiated coverage on shares of Lear in a report on Wednesday, March 4th. They set a "neutral" rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $134.92.

Lear Price Performance

Shares of NYSE:LEA opened at $128.48 on Wednesday. The company's 50-day moving average is $124.30 and its 200 day moving average is $116.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.35. The company has a market capitalization of $6.51 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 0.82 and a beta of 1.24. Lear Corporation has a fifty-two week low of $79.14 and a fifty-two week high of $142.84.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.74. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.78 billion. Lear had a net margin of 1.88% and a return on equity of 13.40%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.94 EPS. On average, equities research analysts forecast that Lear Corporation will post 14.18 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 5th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, March 5th. Lear's payout ratio is 37.79%.

Lear Company Profile

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.

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