Prospera Financial Services Inc boosted its position in shares of Lear Co. (NYSE:LEA) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,796 shares of the company’s stock after buying an additional 143 shares during the period. Prospera Financial Services Inc’s holdings in Lear were worth $372,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEA. Norges Bank purchased a new position in Lear during the fourth quarter worth $382,211,000. Old Mutual Global Investors UK Ltd. increased its position in Lear by 2,184.5% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 476,476 shares of the company’s stock worth $57,758,000 after buying an additional 455,619 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Lear during the fourth quarter worth $40,896,000. APG Asset Management N.V. increased its position in Lear by 415.0% in the third quarter. APG Asset Management N.V. now owns 340,021 shares of the company’s stock worth $41,217,000 after buying an additional 274,000 shares in the last quarter. Finally, Numeric Investors LLC increased its position in Lear by 32.9% in the fourth quarter. Numeric Investors LLC now owns 1,004,484 shares of the company’s stock worth $132,964,000 after buying an additional 248,484 shares in the last quarter. 97.32% of the stock is currently owned by institutional investors.
Lear Co. (NYSE:LEA) traded down 0.56% during mid-day trading on Thursday, hitting $132.08. The company had a trading volume of 451,194 shares. The company has a 50-day moving average price of $140.73 and a 200 day moving average price of $133.29. The firm has a market capitalization of $9.17 billion, a P/E ratio of 9.91 and a beta of 1.27. Lear Co. has a 12 month low of $97.35 and a 12 month high of $149.00.
Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, January 26th. The company reported $3.80 EPS for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.36. Lear had a return on equity of 32.21% and a net margin of 5.25%. The company earned $4.64 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the firm posted $3.20 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Lear Co. will post $15.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Friday, March 3rd were given 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 boost from Lear’s previous quarterly dividend of $0.30. Lear’s payout ratio is currently 9.00%.
LEA has been the subject of a number of analyst reports. Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Wednesday, February 1st. Morgan Stanley cut Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 price target for the company. in a research report on Tuesday, February 21st. They noted that the move was a valuation call. Royal Bank of Canada set a $157.00 price target on Lear and gave the stock a “hold” rating in a research report on Thursday, January 26th. Barclays PLC upped their price target on Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 12th. Finally, Evercore ISI cut Lear from a “buy” rating to a “hold” rating and upped their price target for the stock from $140.00 to $142.00 in a research report on Wednesday, January 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $140.82.
In other Lear news, Director Thomas P. Capo sold 1,500 shares of Lear stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the completion of the sale, the director now owns 345 shares of the company’s stock, valued at approximately $50,476.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jay K. Kunkel sold 6,347 shares of Lear stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $142.70, for a total value of $905,716.90. Following the sale, the insider now directly owns 8,149 shares of the company’s stock, valued at approximately $1,162,862.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,476 shares of company stock valued at $30,080,372. 0.33% of the stock is currently owned by 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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