James Investment Research Inc. purchased a new stake in Lear Co. (NYSE:LEA) during the second quarter, Holdings Channel reports. The fund purchased 28,194 shares of the auto parts company’s stock, valued at approximately $5,239,000.
Several other institutional investors also recently added to or reduced their stakes in LEA. Exane Derivatives grew its holdings in shares of Lear by 1,151,900.0% in the second quarter. Exane Derivatives now owns 11,520 shares of the auto parts company’s stock valued at $2,140,000 after purchasing an additional 11,519 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Lear in the second quarter valued at approximately $892,000. Townsend & Associates Inc acquired a new position in shares of Lear in the second quarter valued at approximately $113,000. Prospera Financial Services Inc acquired a new position in shares of Lear in the second quarter valued at approximately $271,000. Finally, Boston Advisors LLC grew its holdings in shares of Lear by 4.4% in the second quarter. Boston Advisors LLC now owns 13,910 shares of the auto parts company’s stock valued at $2,585,000 after purchasing an additional 580 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Get Lear alerts:In other Lear news, Director Richard Harold Bott sold 1,063 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $202.35, for a total transaction of $215,098.05. Following the completion of the transaction, the director now owns 1,852 shares in the company, valued at approximately $374,752.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan F. Foster sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $203.24, for a total transaction of $508,100.00. Following the transaction, the director now owns 7,381 shares of the company’s stock, valued at approximately $1,500,114.44. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
NYSE LEA opened at $181.21 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.43. Lear Co. has a 52 week low of $140.45 and a 52 week high of $206.36. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 10.33 and a beta of 1.48.
Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, April 26th. The auto parts company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.91 by $0.19. Lear had a net margin of 6.40% and a return on equity of 29.40%. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business posted $4.27 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. research analysts expect that Lear Co. will post 19.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 27th. Shareholders of record on Friday, June 8th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, June 7th. Lear’s dividend payout ratio (DPR) is presently 16.47%.
A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Lear from $227.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, June 25th. They noted that the move was a valuation call. ValuEngine upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 11th. Evercore ISI upgraded shares of Lear from an “in-line” rating to an “outperform” rating and set a $220.00 price objective for the company in a report on Monday, May 14th. Citigroup lifted their price objective on shares of Lear from $234.00 to $243.00 and gave the company a “buy” rating in a report on Monday, April 30th. Finally, Longbow Research restated a “buy” rating and issued a $225.00 price objective on shares of Lear in a report on Monday, April 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $204.82.
Lear Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
Further Reading: Do closed-end mutual funds pay dividends?
Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Co. (NYSE:LEA).
No comments:
Post a Comment