Teza Capital Management LLC acquired a new stake in shares of Lear Co. (NYSE:LEA – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,824 shares of the auto parts company’s stock, valued at approximately $218,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Commerce Bank boosted its stake in Lear by 1.6% during the 2nd quarter. Commerce Bank now owns 4,872 shares of the auto parts company’s stock valued at $613,000 after acquiring an additional 78 shares during the last quarter. AlphaCrest Capital Management LLC boosted its stake in Lear by 1.4% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 5,602 shares of the auto parts company’s stock valued at $671,000 after acquiring an additional 79 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Lear by 44.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the auto parts company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Lear by 3.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,998 shares of the auto parts company’s stock worth $358,000 after buying an additional 87 shares during the last quarter. Finally, Ellevest Inc. lifted its position in shares of Lear by 4.7% in the 3rd quarter. Ellevest Inc. now owns 2,054 shares of the auto parts company’s stock worth $246,000 after buying an additional 92 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors.
Insider Transactions at Lear
In other news, CEO Raymond E. Scott sold 11,261 shares of Lear stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $137.39, for a total value of $1,547,148.79. Following the transaction, the chief executive officer now owns 28,000 shares of the company’s stock, valued at approximately $3,846,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lear news, SVP Alicia J. Davis sold 1,390 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $144.62, for a total value of $201,021.80. Following the completion of the transaction, the senior vice president now directly owns 3,341 shares in the company, valued at $483,175.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Raymond E. Scott sold 11,261 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $137.39, for a total transaction of $1,547,148.79. Following the completion of the transaction, the chief executive officer now owns 28,000 shares of the company’s stock, valued at $3,846,920. The disclosure for this sale can be found here. Insiders have sold 38,320 shares of company stock valued at $5,265,103 in the last quarter. Insiders own 0.67% of the company’s stock.
Analyst Upgrades and Downgrades
Lear Stock Down 2.3 %
Lear stock opened at $131.92 on Tuesday. The company’s 50-day moving average price is $138.60 and its two-hundred day moving average price is $134.89. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 0.33 and a beta of 1.53. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.54. Lear Co. has a 52 week low of $114.67 and a 52 week high of $158.44.
Lear (NYSE:LEA – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The auto parts company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.27. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Lear had a net margin of 1.57% and a return on equity of 11.22%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. On average, analysts expect that Lear Co. will post 11.04 EPS for the current fiscal year.
Lear Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Friday, March 10th will be paid a $0.77 dividend. The ex-dividend date is Thursday, March 9th. This represents a $3.08 annualized dividend and a dividend yield of 2.33%. Lear’s dividend payout ratio is currently 56.31%.
About Lear
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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