Mirae Asset Global Investments Co. Ltd. increased its position in Lear Co. (NYSE:LEA – Get Rating) by 8.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 92,451 shares of the auto parts company’s stock after buying an additional 6,855 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lear were worth $13,183,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Lear by 5.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,979 shares of the auto parts company’s stock valued at $362,000 after acquiring an additional 98 shares during the period. Level Four Advisory Services LLC boosted its position in shares of Lear by 2.3% in the 1st quarter. Level Four Advisory Services LLC now owns 4,497 shares of the auto parts company’s stock valued at $641,000 after purchasing an additional 99 shares during the period. Eaton Vance Management increased its stake in Lear by 1.1% in the 4th quarter. Eaton Vance Management now owns 8,890 shares of the auto parts company’s stock worth $1,375,000 after purchasing an additional 100 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Lear by 2.2% during the first quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the auto parts company’s stock valued at $668,000 after buying an additional 100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Lear by 2.0% in the first quarter. Oppenheimer & Co. Inc. now owns 5,430 shares of the auto parts company’s stock worth $774,000 after buying an additional 105 shares during the period. 99.56% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Lear
In other news, CEO Raymond E. Scott sold 6,143 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $127.83, for a total value of $785,259.69. Following the sale, the chief executive officer now owns 47,954 shares in the company, valued at approximately $6,129,959.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 24,572 shares of company stock worth $3,375,947 over the last three months. Company insiders own 0.67% of the company’s stock.
Lear Stock Up 1.8 %
Lear (NYSE:LEA – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.45. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Lear had a return on equity of 6.78% and a net margin of 0.58%. Lear’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.45 earnings per share. On average, equities research analysts expect that Lear Co. will post 8.63 earnings per share for the current year.
Lear Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, September 1st will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, August 31st. Lear’s dividend payout ratio is 163.83%.
Analyst Upgrades and Downgrades
LEA has been the subject of several recent analyst reports. Exane BNP Paribas raised Lear from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $117.00 to $140.00 in a research report on Monday, July 11th. Cowen boosted their price target on shares of Lear to $196.00 in a report on Tuesday, August 9th. Morgan Stanley upped their target price on Lear from $139.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. The Goldman Sachs Group raised their price objective on shares of Lear from $158.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Lear from $170.00 to $173.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $168.93.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.
- Get a free copy of the StockNews.com research report on Lear (LEA)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.