Cardan Capital Partners LLC reduced its position in Lear Co. (NYSE:LEA) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,643 shares of the company’s stock after selling 210 shares during the period. Cardan Capital Partners LLC’s holdings in Lear were worth $3,631,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of LEA. First Interstate Bank increased its stake in shares of Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Global X Management Co. LLC raised its stake in Lear by 65.9% in the third quarter. Global X Management Co. LLC now owns 934 shares of the company’s stock worth $113,000 after buying an additional 371 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Lear during the fourth quarter worth $124,000. Financial Architects Inc raised its stake in Lear by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the company’s stock worth $123,000 after buying an additional 1,000 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Lear during the fourth quarter worth $139,000. Institutional investors own 97.32% of the company’s stock.
Shares of Lear Co. (NYSE:LEA) traded down 0.56% during trading on Thursday, hitting $132.08. The stock had a trading volume of 451,194 shares. Lear Co. has a 12 month low of $97.35 and a 12 month high of $149.00. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 9.91 and a beta of 1.27. The company’s 50 day moving average price is $140.73 and its 200 day moving average price is $133.29.
Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, January 26th. The company reported $3.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.36. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.74 billion. Lear had a return on equity of 32.21% and a net margin of 5.25%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.20 earnings per share. Equities research analysts expect that Lear Co. will post $15.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Friday, March 3rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, March 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. This is a positive change from Lear’s previous quarterly dividend of $0.30. Lear’s payout ratio is 9.00%.
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A number of analysts have weighed in on LEA shares. Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Tuesday, April 4th. Berenberg Bank started coverage on Lear in a research note on Friday, March 31st. They issued a “buy” rating and a $175.00 target price on the stock. Barclays PLC increased their target price on Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 12th. Morgan Stanley lowered Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 target price on the stock. in a research note on Tuesday, February 21st. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $148.00 target price on shares of Lear in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $140.82.
In other Lear news, SVP Thomas A. Didonato sold 17,374 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $142.70, for a total transaction of $2,479,269.80. Following the transaction, the senior vice president now owns 17,289 shares of the company’s stock, valued at $2,467,140.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shari L. Burgess sold 8,233 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $142.70, for a total value of $1,174,849.10. Following the transaction, the vice president now directly owns 5,172 shares in the company, valued at approximately $738,044.40. The disclosure for this sale can be found here. Insiders have sold 210,476 shares of company stock worth $30,080,372 in the last three months. 0.33% of the stock is currently owned by corporate insiders.
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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