Bank of Nova Scotia Buys Shares of 2,836 Lear Co. (NYSE:LEA)

Bank of Nova Scotia purchased a new position in Lear Co. (NYSE:LEAFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,836 shares of the auto parts company’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its holdings in Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Lear during the fourth quarter valued at $56,000. Covestor Ltd boosted its holdings in shares of Lear by 131.9% during the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after acquiring an additional 252 shares during the period. Fifth Third Bancorp grew its position in shares of Lear by 21.4% during the fourth quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 133 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Lear by 41.3% in the 4th quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock worth $123,000 after acquiring an additional 255 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LEA shares. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. increased their price objective on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Citigroup cut their target price on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. UBS Group decreased their price target on Lear from $146.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays cut their price objective on shares of Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.44.

Get Our Latest Stock Analysis on Lear

Insider Transactions at Lear

In related news, Director Greg C. Smith sold 2,392 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total value of $296,273.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Smith sold 2,392 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Lear Price Performance

NYSE:LEA opened at $123.34 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $131.10 and its 200 day moving average price is $134.91. Lear Co. has a 52-week low of $120.40 and a 52-week high of $157.90. The firm has a market cap of $7.00 billion, a P/E ratio of 13.45, a PEG ratio of 0.32 and a beta of 1.51.

Lear (NYSE:LEAGet Free Report) last released its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.14. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.78 EPS. As a group, sell-side analysts predict that Lear Co. will post 14.32 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Thursday, June 6th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s payout ratio is 33.59%.

Lear Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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