Ladenburg Thalmann Financial Services Inc. decreased its stake in Lear Co. (NYSE:LEA) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,426 shares of the company’s stock after selling 127 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Lear were worth $191,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of LEA. Evercore Wealth Management LLC raised its stake in shares of Lear by 54.3% in the second quarter. Evercore Wealth Management LLC now owns 1,554 shares of the company’s stock valued at $158,000 after buying an additional 547 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of Lear during the third quarter valued at about $312,000. Advisory Services Network LLC raised its stake in shares of Lear by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock valued at $103,000 after buying an additional 529 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Lear by 51.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,521 shares of the company’s stock valued at $2,609,000 after buying an additional 7,337 shares during the period. Finally, Waverton Investment Management Ltd raised its stake in shares of Lear by 200.7% in the third quarter. Waverton Investment Management Ltd now owns 68,764 shares of the company’s stock valued at $8,336,000 after buying an additional 45,894 shares during the period. 97.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Lear Co. (NYSE:LEA) opened at 144.19 on Tuesday. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 10.82 and a beta of 1.27. Lear Co. has a 1-year low of $97.35 and a 1-year high of $149.00. The stock has a 50 day moving average price of $142.96 and a 200-day moving average price of $130.60.
Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, January 26th. The company reported $3.80 earnings per share (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 business earned $4.64 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business posted $3.20 EPS. Lear’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Lear Co. will post $15.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, March 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, March 1st. This is a positive change from Lear’s previous quarterly dividend of $0.30. Lear’s dividend payout ratio is presently 9.00%.
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Several equities research analysts have issued reports on LEA shares. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Tuesday, November 22nd. Evercore ISI lowered Lear from a “buy” rating to a “hold” rating and lifted their price target for the stock from $140.00 to $142.00 in a research note on Wednesday, January 4th. They noted that the move was a valuation call. Barclays PLC lifted their price target on Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 12th. Finally, Royal Bank of Canada set a $157.00 price target on Lear and gave the stock a “hold” rating in a research note on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $138.30.
In other Lear news, insider Jay K. Kunkel sold 6,347 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $142.70, for a total value of $905,716.90. Following the completion of the sale, the insider now owns 8,149 shares in the company, valued at approximately $1,162,862.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas P. Capo sold 1,500 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $146.31, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 210,476 shares of company stock valued at $30,080,372 in the last quarter. 0.33% of the stock is currently owned by company insiders.
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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