Allianz Asset Management GmbH grew its holdings in shares of Lear Corporation (NYSE:LEA) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 951,518 shares of the auto parts company’s stock after purchasing an additional 27,368 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.41% of Lear worth $164,689,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strs Ohio increased its holdings in Lear by 1.7% in the 2nd quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock worth $698,000 after acquiring an additional 80 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Lear by 3.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,667 shares of the auto parts company’s stock worth $1,373,000 after acquiring an additional 313 shares in the last quarter. Bessemer Group Inc. increased its holdings in Lear by 27.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,506 shares of the auto parts company’s stock worth $356,000 after acquiring an additional 538 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Lear in the 2nd quarter worth approximately $276,000. Finally, ARP Americas LLC increased its holdings in Lear by 73.2% in the 2nd quarter. ARP Americas LLC now owns 3,789 shares of the auto parts company’s stock worth $538,000 after acquiring an additional 1,601 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.
Lear Corporation (LEA) traded down $1.34 during mid-day trading on Tuesday, reaching $177.00. The company’s stock had a trading volume of 372,900 shares, compared to its average volume of 663,471. Lear Corporation has a 1-year low of $130.60 and a 1-year high of $181.38. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $11,960.00, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43.
Lear (NYSE:LEA) last posted its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. Lear had a return on equity of 31.79% and a net margin of 5.79%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 EPS. equities analysts predict that Lear Corporation will post 16.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. Lear’s dividend payout ratio is currently 12.22%.
Several equities research analysts recently issued reports on LEA shares. Guggenheim lowered shares of Lear from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a report on Thursday, October 26th. Barclays set a $171.00 price target on Lear and gave the stock a “hold” rating in a research note on Friday, October 20th. UBS downgraded Lear from a “buy” rating to a “neutral” rating and upped their price target for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Jefferies Group initiated coverage on Lear in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price target for the company. Finally, Robert W. Baird restated a “buy” rating and issued a $178.00 price target on shares of Lear in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $173.13.
In other news, SVP Mel Stephens sold 796 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total transaction of $142,484.00. Following the completion of the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $7,160,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $177.74, for a total value of $202,090.38. Following the transaction, the executive vice president now owns 6,912 shares of the company’s stock, valued at $1,228,538.88. The disclosure for this sale can be found here. Insiders have sold a total of 11,337 shares of company stock valued at $1,946,256 over the last quarter. Corporate insiders own 0.49% of the company’s stock.
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Lear Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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