Pictet Asset Management SA lifted its holdings in Lear Co. (NYSE:LEA – Get Rating) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,253 shares of the auto parts company’s stock after buying an additional 97 shares during the quarter. Pictet Asset Management SA’s holdings in Lear were worth $2,903,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Pzena Investment Management LLC raised its holdings in shares of Lear by 6.2% in the third quarter. Pzena Investment Management LLC now owns 6,864,149 shares of the auto parts company’s stock valued at $821,570,000 after buying an additional 401,070 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lear by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 5,532,044 shares of the auto parts company’s stock worth $788,815,000 after purchasing an additional 32,169 shares during the last quarter. Capital International Investors raised its holdings in Lear by 47.9% during the 1st quarter. Capital International Investors now owns 3,064,807 shares of the auto parts company’s stock worth $437,259,000 after purchasing an additional 993,216 shares during the last quarter. State Street Corp raised its holdings in Lear by 0.5% during the 1st quarter. State Street Corp now owns 2,463,244 shares of the auto parts company’s stock worth $351,234,000 after purchasing an additional 12,072 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Lear by 4.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,105,204 shares of the auto parts company’s stock worth $251,972,000 after purchasing an additional 92,293 shares during the last quarter. 99.56% of the stock is owned by institutional investors.
Insider Activity at Lear
In other Lear news, CEO Raymond E. Scott sold 6,142 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $127.59, for a total value of $783,657.78. Following the sale, the chief executive officer now owns 16,740 shares in the company, valued at approximately $2,135,856.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Lear news, SVP Alicia J. Davis sold 1,390 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $144.62, for a total value of $201,021.80. Following the sale, the senior vice president now owns 3,341 shares in the company, valued at approximately $483,175.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond E. Scott sold 6,142 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $127.59, for a total value of $783,657.78. Following the completion of the sale, the chief executive officer now owns 16,740 shares in the company, valued at approximately $2,135,856.60. The disclosure for this sale can be found here. In the last three months, insiders sold 19,560 shares of company stock worth $2,638,818. 0.67% of the stock is owned by company insiders.
Analysts Set New Price Targets
Lear Price Performance
Shares of LEA opened at $140.10 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.35. The stock has a 50 day simple moving average of $135.10 and a 200 day simple moving average of $135.50. Lear Co. has a 52-week low of $114.67 and a 52-week high of $167.88. The firm has a market capitalization of $8.28 billion, a PE ratio of 25.61, a P/E/G ratio of 0.34 and a beta of 1.52.
Lear (NYSE:LEA – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The auto parts company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.27. Lear had a return on equity of 11.22% and a net margin of 1.57%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $1.22 EPS. Lear’s quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Lear Co. will post 11.27 EPS for the current fiscal year.
Lear Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Friday, March 10th will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $3.08 annualized dividend and a dividend yield of 2.20%. Lear’s dividend payout ratio is presently 56.31%.
Lear Company Profile
Lear Corp. engages in the design, manufacture and supply of automotive seats, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.
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