Raymond James Trust N.A. boosted its holdings in Lear Co. (NYSE:LEA – Get Rating) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,813 shares of the auto parts company’s stock after buying an additional 485 shares during the period. Raymond James Trust N.A.’s holdings in Lear were worth $337,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of LEA. US Bancorp DE raised its stake in Lear by 5.4% during the 3rd quarter. US Bancorp DE now owns 13,253 shares of the auto parts company’s stock valued at $1,587,000 after purchasing an additional 677 shares during the last quarter. Sendero Wealth Management LLC acquired a new position in shares of Lear during the third quarter valued at about $475,000. Assenagon Asset Management S.A. bought a new stake in shares of Lear in the third quarter valued at about $326,000. Robeco Institutional Asset Management B.V. grew its position in Lear by 186.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 28,914 shares of the auto parts company’s stock worth $3,462,000 after buying an additional 18,821 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Lear by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,960,331 shares of the auto parts company’s stock valued at $234,631,000 after acquiring an additional 26,848 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Lear
In related news, EVP Frank C. Orsini sold 19,501 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $150.13, for a total value of $2,927,685.13. Following the completion of the sale, the executive vice president now owns 11,842 shares in the company, valued at approximately $1,777,839.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Raymond E. Scott sold 6,142 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 16,740 shares of the company’s stock, valued at approximately $2,135,856.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Frank C. Orsini sold 19,501 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $150.13, for a total transaction of $2,927,685.13. Following the completion of the transaction, the executive vice president now directly owns 11,842 shares of the company’s stock, valued at $1,777,839.46. The disclosure for this sale can be found here. Insiders sold a total of 35,970 shares of company stock worth $5,216,989 in the last quarter. Corporate insiders own 0.67% of the company’s stock.
Lear Stock Performance
Lear (NYSE:LEA – Get Rating) last issued its earnings results on Tuesday, November 1st. The auto parts company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. Lear had a net margin of 1.14% and a return on equity of 9.21%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.13 billion. As a group, equities research analysts predict that Lear Co. will post 8.44 EPS for the current year.
Lear Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Wednesday, December 7th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, December 6th. Lear’s dividend payout ratio is currently 79.79%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Lear from $140.00 to $133.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lear from $155.00 to $138.00 in a report on Wednesday, November 2nd. Royal Bank of Canada reduced their target price on Lear from $142.00 to $137.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 2nd. StockNews.com started coverage on Lear in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company downgraded Lear from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $149.00 to $139.00 in a report on Wednesday, December 14th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $157.38.
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)
- General Electric Stock, The Sum of All Parts Strategy is Paying Off
- MarketBeat: Week in Review 01/09-01/13
- JPMorgan Chase Falls As Banks Brace For Recession
- Why is the Bed Bath & Beyond Stock Price up 261%?
- Roku Stock Price is Trending, Here’s Why
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.