Tocqueville Asset Management L.P. acquired a new position in Lear Co. (NYSE:LEA) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,603 shares of the auto parts company’s stock, valued at approximately $283,000.
A number of other large investors have also recently added to or reduced their stakes in LEA. Cerebellum GP LLC acquired a new position in shares of Lear during the 4th quarter valued at about $126,000. Financial Gravity Companies Inc. acquired a new stake in Lear during the 4th quarter worth approximately $183,000. Tower Research Capital LLC TRC increased its position in Lear by 69.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the auto parts company’s stock worth $178,000 after purchasing an additional 413 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in Lear during the 4th quarter worth approximately $186,000. Finally, IFM Investors Pty Ltd acquired a new stake in Lear during the 4th quarter worth approximately $204,000. Institutional investors own 95.77% of the company’s stock.
NYSE:LEA opened at $189.21 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.45. Lear Co. has a 52-week low of $132.01 and a 52-week high of $202.42. The stock has a market cap of $12,766.35, a P/E ratio of 11.13 and a beta of 1.45.
Lear (NYSE:LEA) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $4.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.25 by $0.13. Lear had a return on equity of 30.32% and a net margin of 6.42%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same quarter last year, the company posted $3.80 EPS. Lear’s revenue for the quarter was up 15.5% on a year-over-year basis. sell-side analysts anticipate that Lear Co. will post 18.85 earnings per share for the current fiscal year.
Lear declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $954.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Wednesday, March 7th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This is a positive change from Lear’s previous quarterly dividend of $0.50. This represents a $2.80 dividend on an annualized basis and a yield of 1.48%. Lear’s dividend payout ratio (DPR) is presently 16.47%.
In other news, Director Donald L. Runkle sold 1,000 shares of Lear stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $190.67, for a total transaction of $190,670.00. Following the completion of the sale, the director now directly owns 2,944 shares in the company, valued at approximately $561,332.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mel Stephens sold 17,006 shares of Lear stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $193.00, for a total value of $3,282,158.00. Following the sale, the senior vice president now owns 15,694 shares of the company’s stock, valued at $3,028,942. The disclosure for this sale can be found here. Insiders have sold a total of 261,115 shares of company stock valued at $49,699,331 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.
A number of analysts recently issued reports on the stock. Robert W. Baird reissued a “buy” rating and set a $213.00 target price on shares of Lear in a research report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating and issued a $231.00 price objective on shares of Lear in a research report on Monday, January 29th. Goldman Sachs upgraded Lear from a “sell” rating to a “neutral” rating and set a $187.00 target price for the company in a research note on Tuesday, January 30th. Guggenheim set a $206.00 target price on Lear and gave the company a “hold” rating in a research note on Monday, January 29th. Finally, Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $221.00 target price for the company in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Lear presently has a consensus rating of “Buy” and an average price target of $194.72.
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Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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