California State Teachers Retirement System cut its stake in Lear Co. (NYSE:LEA) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,050 shares of the auto parts company’s stock after selling 10,873 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Lear worth $19,913,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LEA. Toronto Dominion Bank lifted its position in Lear by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after buying an additional 84 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Lear during the 2nd quarter worth about $126,000. Global X Management Co. LLC lifted its position in Lear by 16.5% during the 2nd quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after buying an additional 145 shares in the last quarter. Parallel Advisors LLC lifted its position in Lear by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after buying an additional 42 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Lear during the 3rd quarter worth about $210,000. 91.63% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,228,538.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were 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 owns 40,000 shares in the company, valued at approximately $7,160,000. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
Several brokerages have commented on LEA. KeyCorp boosted their price target on shares of Lear from $180.00 to $184.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. 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 target on the stock. Deutsche Bank boosted their price target on shares of Lear from $167.00 to $176.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Lear from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Wednesday, October 18th. Finally, Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $179.50.
Shares of Lear Co. (NYSE LEA) traded up $2.40 during mid-day trading on Thursday, hitting $184.91. 882,700 shares of the stock were exchanged, compared to its average volume of 607,969. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34. The company has a market cap of $12,490.00, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. Lear Co. has a 12 month low of $132.01 and a 12 month high of $192.13.
Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the Zacks’ consensus estimate of $3.80 by $0.16. Lear had a net margin of 5.79% and a return on equity of 31.79%. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the business earned $3.19 EPS. Lear’s quarterly revenue was up 10.1% on a year-over-year basis. research analysts anticipate that Lear Co. will post 16.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 8th were paid a $0.50 dividend. The ex-dividend date was Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.08%. Lear’s dividend payout ratio (DPR) is currently 12.22%.
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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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