Renaissance Group LLC cut its stake in shares of Lear Corporation (NYSE:LEA) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,028 shares of the company’s stock after selling 137 shares during the period. Renaissance Group LLC’s holdings in Lear Corporation were worth $268,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its stake in Lear Corporation by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,977 shares of the company’s stock valued at $506,000 after buying an additional 14 shares during the period. First Interstate Bank boosted its stake in Lear Corporation by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the company’s stock valued at $102,000 after buying an additional 30 shares during the period. Moody Lynn & Lieberson LLC boosted its stake in Lear Corporation by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,040 shares of the company’s stock valued at $309,000 after buying an additional 31 shares during the period. Wagner Bowman Management Corp boosted its stake in Lear Corporation by 1.1% in the third quarter. Wagner Bowman Management Corp now owns 4,689 shares of the company’s stock valued at $568,000 after buying an additional 50 shares during the period. Finally, Highland Capital Management LLC boosted its stake in Lear Corporation by 1.8% in the third quarter. Highland Capital Management LLC now owns 4,648 shares of the company’s stock valued at $563,000 after buying an additional 80 shares during the period. 97.32% of the stock is owned by institutional investors and hedge funds.
Lear Corporation (NYSE:LEA) remained flat at $141.86 during trading on Friday. The company had a trading volume of 155,396 shares. The stock’s 50 day moving average is $140.76 and its 200-day moving average is $126.16. Lear Corporation has a 52 week low of $96.64 and a 52 week high of $148.49. The firm has a market cap of $9.85 billion, a P/E ratio of 10.64 and a beta of 1.27.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Thursday, January 26th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.36. The firm had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.74 billion. Lear Corporation had a net margin of 5.25% and a return on equity of 32.21%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.20 earnings per share. On average, equities research analysts forecast that Lear Corporation will post $15.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, March 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. This is a boost from Lear Corporation’s previous quarterly dividend of $0.30. Lear Corporation’s payout ratio is presently 9.00%.
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Several research firms have recently weighed in on LEA. Zacks Investment Research cut shares of Lear Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Barclays PLC increased their price target on shares of Lear Corporation from $134.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, January 12th. RBC Capital Markets reissued a “sector perform” rating and issued a $127.00 price target (up previously from $121.00) on shares of Lear Corporation in a research note on Thursday, October 27th. Evercore ISI cut shares of Lear Corporation from a “buy” rating to a “hold” rating and increased their price target for the company from $140.00 to $142.00 in a research note on Wednesday, January 4th. They noted that the move was a valuation call. Finally, Bank of America Corporation cut shares of Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $145.00 to $115.00 in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $136.10.
In other Lear Corporation news, EVP Terrence B. Larkin sold 4,020 shares of Lear Corporation stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $134.24, for a total transaction of $539,644.80. Following the completion of the transaction, the executive vice president now owns 16,554 shares in the company, valued at $2,222,208.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas P. Capo sold 1,000 shares of Lear Corporation stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $131.82, for a total transaction of $131,820.00. Following the transaction, the director now owns 2,645 shares of the company’s stock, valued at approximately $348,663.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,920 shares of company stock valued at $1,187,123. 0.33% of the stock is currently owned by company insiders.
Lear Corporation 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 operates through two segments: seating and electrical.
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