AMP Capital Investors Ltd raised its position in Lear Co. (NYSE:LEA) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,602 shares of the auto parts company’s stock after buying an additional 6,483 shares during the period. AMP Capital Investors Ltd owned about 0.11% of Lear worth $13,180,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEA. The Manufacturers Life Insurance Company increased its holdings in Lear by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,818 shares of the auto parts company’s stock valued at $400,000 after buying an additional 334 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Lear in the third quarter valued at about $210,000. Swiss National Bank grew its position in shares of Lear by 0.5% in the third quarter. Swiss National Bank now owns 254,400 shares of the auto parts company’s stock valued at $44,032,000 after purchasing an additional 1,200 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Lear by 105.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 3,992 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 2,050 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Lear in the third quarter valued at about $1,918,000. 95.90% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. Guggenheim set a $206.00 target price on shares of Lear and gave the company a “hold” rating in a research report on Monday, January 29th. ValuEngine upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Jefferies Group reiterated a “buy” rating and issued a $231.00 target price on shares of Lear in a research report on Monday, January 29th. Citigroup restated a “buy” rating and set a $234.00 price target (up from $202.00) on shares of Lear in a research report on Wednesday, February 14th. Finally, Cowen restated a “buy” rating and set a $220.00 price target on shares of Lear in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Lear currently has an average rating of “Buy” and an average target price of $191.11.
Lear Co. (NYSE LEA) opened at $191.28 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 0.45. The firm has a market cap of $12,800.00, a PE ratio of 11.36 and a beta of 1.46. Lear Co. has a fifty-two week low of $132.01 and a fifty-two week high of $202.42.
Lear (NYSE:LEA) last posted its earnings results on Friday, January 26th. The auto parts company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.25 by $0.13. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.27 billion. Lear had a net margin of 6.42% and a return on equity of 30.32%. Lear’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.80 EPS. equities research analysts predict that Lear Co. will post 18.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Wednesday, March 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.46%. This is a positive change from Lear’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 6th. Lear’s payout ratio is presently 16.63%.
Lear announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $954.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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