Standard Life Aberdeen plc trimmed its position in Lear Co. (NYSE:LEA) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,117 shares of the auto parts company’s stock after selling 7,148 shares during the quarter. Standard Life Aberdeen plc owned 0.47% of Lear worth $38,982,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in shares of Lear by 8.6% in the fourth quarter. Pzena Investment Management LLC now owns 4,553,308 shares of the auto parts company’s stock valued at $624,714,000 after buying an additional 361,827 shares during the period. FMR LLC raised its holdings in Lear by 11.1% in the 4th quarter. FMR LLC now owns 3,586,889 shares of the auto parts company’s stock valued at $492,121,000 after acquiring an additional 359,113 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Lear by 5.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,146,734 shares of the auto parts company’s stock valued at $431,733,000 after acquiring an additional 150,414 shares during the period. State Street Corp lifted its position in shares of Lear by 53.8% during the 4th quarter. State Street Corp now owns 2,492,942 shares of the auto parts company’s stock valued at $342,032,000 after acquiring an additional 872,416 shares during the period. Finally, Boston Partners lifted its position in shares of Lear by 5.5% during the 4th quarter. Boston Partners now owns 1,261,529 shares of the auto parts company’s stock valued at $173,096,000 after acquiring an additional 65,799 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on LEA. Cleveland Research initiated coverage on Lear in a research report on Friday, February 28th. They issued a “neutral” rating on the stock. Royal Bank of Canada cut their price objective on shares of Lear from $161.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. KeyCorp cut their price objective on shares of Lear from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday. TheStreet downgraded shares of Lear from a “b-” rating to a “c” rating in a research note on Friday, February 28th. Finally, Bank of America raised shares of Lear from an “underperform” rating to a “buy” rating in a report on Wednesday, March 18th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $132.00.
Lear (NYSE:LEA) last released its quarterly earnings data on Tuesday, January 28th. The auto parts company reported $2.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.64. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Lear had a net margin of 3.80% and a return on equity of 19.61%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.05 EPS. On average, sell-side analysts forecast that Lear Co. will post 12.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Friday, February 28th were issued a dividend of $0.77 per share. This is an increase from Lear’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 27th. This represents a $3.08 annualized dividend and a dividend yield of 3.21%. Lear’s dividend payout ratio (DPR) is 22.02%.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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