Arbor Wealth Advisors LLC Takes Position in Lear Co. (NYSE:LEA)

Arbor Wealth Advisors LLC purchased a new position in shares of Lear Co. (NYSE:LEA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,191 shares of the auto parts company's stock, valued at approximately $2,004,000. Lear makes up approximately 2.1% of Arbor Wealth Advisors LLC's holdings, making the stock its 10th biggest holding.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Lear by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,912,006 shares of the auto parts company's stock worth $793,391,000 after acquiring an additional 45,567 shares in the last quarter. FMR LLC increased its stake in Lear by 17.9% in the 3rd quarter. FMR LLC now owns 1,896,871 shares of the auto parts company's stock valued at $254,560,000 after buying an additional 287,483 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Lear by 13.8% during the 4th quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company's stock worth $174,382,000 after buying an additional 149,958 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Lear by 236.2% in the 3rd quarter. Invesco Ltd. now owns 577,690 shares of the auto parts company's stock worth $77,526,000 after buying an additional 405,875 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Lear by 2.6% in the third quarter. Northern Trust Corp now owns 529,304 shares of the auto parts company's stock valued at $71,033,000 after acquiring an additional 13,248 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Lear from $130.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. Benchmark raised their price target on shares of Lear from $188.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, January 2nd. Morgan Stanley upped their price objective on Lear from $140.00 to $150.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Barclays raised their target price on Lear from $170.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Finally, StockNews.com cut Lear from a "buy" rating to a "hold" rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $162.44.

Lear Price Performance

LEA stock traded down $0.59 during mid-day trading on Tuesday, reaching $133.53. 691,600 shares of the company traded hands, compared to its average volume of 527,481. Lear Co. has a 52-week low of $117.79 and a 52-week high of $157.90. The company has a market capitalization of $7.60 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.33 and a beta of 1.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. The company has a fifty day moving average price of $138.88 and a 200-day moving average price of $135.88.

Lear (NYSE:LEA - Get Free Report) last posted its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing analysts' consensus estimates of $3.12 by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. Lear had a return on equity of 14.09% and a net margin of 2.44%. The business's revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $2.81 EPS. As a group, analysts anticipate that Lear Co. will post 14.52 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a yield of 2.31%. Lear's dividend payout ratio is currently 31.82%.

Insider Buying and Selling at Lear

In other Lear news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the sale, the chief executive officer now directly owns 13,627 shares in the company, valued at $1,810,483.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now directly owns 17,506 shares in the company, valued at approximately $2,465,019.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott sold 10,652 shares of the business's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the sale, the chief executive officer now owns 13,627 shares of the company's stock, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.

Lear Company 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.

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