Toronto Dominion Bank Buys Shares of 11,100 Lear Co. (NYSE:LEA)

Toronto Dominion Bank bought a new stake in shares of Lear Co. (NYSE:LEA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,100 shares of the auto parts company's stock, valued at approximately $1,051,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LEA. Assetmark Inc. raised its position in Lear by 5.9% during the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company's stock valued at $873,000 after buying an additional 515 shares during the period. RWC Asset Management LLP boosted its stake in shares of Lear by 23.3% during the 4th quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company's stock worth $38,913,000 after acquiring an additional 77,691 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Lear during the 4th quarter worth about $3,871,000. Dimensional Fund Advisors LP boosted its stake in Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock valued at $247,566,000 after purchasing an additional 283,838 shares during the period. Finally, Barclays PLC boosted its stake in Lear by 9.8% during the 3rd quarter. Barclays PLC now owns 135,049 shares of the auto parts company's stock valued at $14,742,000 after purchasing an additional 12,094 shares during the period. Institutional investors own 97.04% of the company's stock.

Wall Street Analysts Forecast Growth

LEA has been the subject of several recent research reports. Citigroup started coverage on Lear in a report on Wednesday, April 23rd. They issued a "buy" rating and a $123.00 price target for the company. Cowen cut Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $88.00 price target on Lear and gave the company a "neutral" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, UBS Group raised their price target on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $112.09.

Lear Trading Up 0.1%

Lear stock traded up $0.11 during trading hours on Thursday, reaching $90.07. 65,993 shares of the company's stock were exchanged, compared to its average volume of 736,467. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm's 50 day simple moving average is $86.42 and its 200 day simple moving average is $92.62. The firm has a market capitalization of $4.82 billion, a PE ratio of 10.07, a PEG ratio of 0.49 and a beta of 1.30. Lear Co. has a twelve month low of $73.85 and a twelve month high of $127.58.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $0.48. Lear had a return on equity of 14.70% and a net margin of 2.17%. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $3.18 EPS. The company's quarterly revenue was down 7.2% on a year-over-year basis. Research analysts predict that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. Lear's payout ratio is 36.11%.

Insiders Place Their Bets

In related news, Director Rod Lache bought 2,178 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the transaction, the director now owns 2,178 shares of the company's stock, valued at approximately $199,940.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company's stock.

Lear Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.