Nordea Investment Management AB Has $5.49 Million Holdings in Lear Corporation $LEA

Nordea Investment Management AB increased its position in shares of Lear Corporation (NYSE:LEA) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,919 shares of the auto parts company’s stock after buying an additional 5,001 shares during the period. Nordea Investment Management AB owned 0.10% of Lear worth $5,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hunter Perkins Capital Management LLC increased its stake in shares of Lear by 0.8% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 13,846 shares of the auto parts company’s stock worth $1,315,000 after purchasing an additional 107 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Lear by 34.0% during the third quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 107 shares during the period. Janney Montgomery Scott LLC increased its position in Lear by 2.0% during the second quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company’s stock worth $585,000 after buying an additional 121 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Lear by 2.6% in the second quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company’s stock valued at $661,000 after buying an additional 176 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Lear by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 24,918 shares of the auto parts company’s stock valued at $2,367,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $118.17, for a total transaction of $590,850.00. Following the completion of the sale, the chief financial officer directly owned 15,244 shares in the company, valued at approximately $1,801,383.48. This represents a 24.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by corporate insiders.

Lear Trading Down 3.3%

Shares of Lear stock opened at $121.06 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35. The firm has a 50-day moving average of $113.30 and a 200-day moving average of $106.93. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $127.36. The stock has a market cap of $6.28 billion, a PE ratio of 14.80, a PEG ratio of 1.12 and a beta of 1.30.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a net margin of 1.92% and a return on equity of 13.44%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the previous year, the company earned $2.89 EPS. The business’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, December 10th. Lear’s dividend payout ratio (DPR) is 37.65%.

Wall Street Analysts Forecast Growth

LEA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $112.00 price objective (down from $115.00) on shares of Lear in a report on Monday, December 8th. Evercore ISI raised their target price on shares of Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. Citigroup lifted their target price on shares of Lear from $136.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $126.00.

Lear Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.