abrdn plc raised its stake in Lear Co. (NYSE:LEA – Get Rating) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,545 shares of the auto parts company’s stock after purchasing an additional 123 shares during the quarter. abrdn plc’s holdings in Lear were worth $812,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of LEA. Old North State Trust LLC purchased a new stake in shares of Lear in the third quarter valued at approximately $28,000. Allworth Financial LP boosted its stake in shares of Lear by 2,027.3% in the fourth quarter. Allworth Financial LP now owns 234 shares of the auto parts company’s stock valued at $29,000 after buying an additional 223 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Lear by 44.2% in the third quarter. EverSource Wealth Advisors LLC now owns 284 shares of the auto parts company’s stock valued at $34,000 after buying an additional 87 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Lear by 28.8% in the third quarter. IFP Advisors Inc now owns 545 shares of the auto parts company’s stock valued at $39,000 after buying an additional 122 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Lear by 44.9% in the third quarter. Quent Capital LLC now owns 629 shares of the auto parts company’s stock valued at $75,000 after buying an additional 195 shares in the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on LEA shares. TheStreet upgraded Lear from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. 888 reiterated a “maintains” rating on shares of Lear in a research report on Friday, April 28th. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of Lear in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Lear from $136.00 to $137.00 in a research report on Friday, April 28th. Finally, Wells Fargo & Company decreased their target price on Lear from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.23.
Lear Stock Up 0.2 %
Lear (NYSE:LEA – Get Rating) last released its earnings results on Thursday, April 27th. The auto parts company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.23. Lear had a return on equity of 12.32% and a net margin of 1.96%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the prior year, the business posted $1.80 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that Lear Co. will post 11.08 earnings per share for the current fiscal year.
Lear Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Friday, June 9th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $3.08 annualized dividend and a yield of 2.48%. Lear’s dividend payout ratio (DPR) is presently 43.63%.
Insider Buying and Selling
In related news, SVP Carl A. Esposito sold 8,000 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $142.00, for a total transaction of $1,136,000.00. Following the transaction, the senior vice president now directly owns 19,415 shares in the company, valued at $2,756,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Carl A. Esposito sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $142.00, for a total value of $1,136,000.00. Following the transaction, the senior vice president now directly owns 19,415 shares in the company, valued at approximately $2,756,930. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Raymond E. Scott sold 11,260 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $138.50, for a total value of $1,559,510.00. Following the completion of the transaction, the chief executive officer now owns 16,740 shares in the company, valued at $2,318,490. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,811 shares of company stock worth $3,014,579. 0.75% of the stock is owned by company insiders.
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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