American Century Companies Inc. decreased its holdings in Lear Corporation (NYSE:LEA) by 36.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,990 shares of the auto parts company’s stock after selling 22,366 shares during the quarter. American Century Companies Inc. owned 0.06% of Lear worth $6,748,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Balyasny Asset Management LLC boosted its stake in shares of Lear by 7,465.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock valued at $101,754,000 after purchasing an additional 706,708 shares during the last quarter. Koch Industries Inc. bought a new position in Lear during the 2nd quarter worth approximately $485,000. Harbour Capital Advisors LLC boosted its stake in Lear by 14,108.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock worth $1,575,000 after acquiring an additional 222,201 shares during the last quarter. APG Asset Management N.V. boosted its stake in Lear by 25.3% during the 3rd quarter. APG Asset Management N.V. now owns 788,621 shares of the auto parts company’s stock worth $136,495,000 after acquiring an additional 159,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Lear by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,409,081 shares of the auto parts company’s stock worth $910,602,000 after acquiring an additional 158,042 shares during the last quarter. Institutional investors own 91.81% of the company’s stock.
Lear Corporation (NYSE LEA) traded up $2.42 during trading hours on Thursday, reaching $175.93. The company had a trading volume of 584,803 shares, compared to its average volume of 661,448. 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 $12,012.30, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43. Lear Corporation has a one year low of $131.82 and a one year high of $181.38.
Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping the Zacks’ consensus estimate of $3.80 by $0.16. Lear had a return on equity of 31.79% and a net margin of 5.79%. The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. research analysts anticipate that Lear Corporation will post 16.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors 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 annualized dividend and a dividend yield of 1.14%. Lear’s dividend payout ratio is presently 12.47%.
In other news, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $7,160,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction 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 directly owns 6,912 shares in the company, valued at $1,228,538.88. The disclosure for this sale can be found here. Insiders have sold 11,337 shares of company stock worth $1,946,256 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.
LEA has been the topic of several recent analyst reports. BidaskClub raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Robert W. Baird reissued a “buy” rating and issued a $178.00 target price on shares of Lear in a research report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and set a $180.00 price objective on shares of Lear in a research report on Sunday, September 17th. Cowen began coverage on shares of Lear in a research report on Monday, September 25th. They set an “outperform” rating and a $195.00 price objective for the company. Finally, Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $173.13.
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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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