GenTrust LLC Purchases New Shares in Lear Corporation $LEA

GenTrust LLC purchased a new position in Lear Corporation (NYSE:LEA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,286 shares of the auto parts company’s stock, valued at approximately $934,000.

A number of other hedge funds have also bought and sold shares of LEA. Vest Financial LLC raised its stake in shares of Lear by 134.9% during the third quarter. Vest Financial LLC now owns 25,951 shares of the auto parts company’s stock valued at $2,611,000 after acquiring an additional 14,904 shares in the last quarter. Capital Management Corp VA bought a new stake in Lear during the 3rd quarter valued at $2,295,000. Meritage Portfolio Management purchased a new stake in shares of Lear in the 3rd quarter worth $3,268,000. Prudential Financial Inc. grew its position in shares of Lear by 2,060.5% during the 2nd quarter. Prudential Financial Inc. now owns 104,720 shares of the auto parts company’s stock worth $10,009,000 after buying an additional 99,873 shares in the last quarter. Finally, RWC Asset Management LLP grew its position in shares of Lear by 3.8% during the 3rd quarter. RWC Asset Management LLP now owns 570,048 shares of the auto parts company’s stock worth $57,353,000 after buying an additional 20,900 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Activity

In other news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Thursday, December 18th. The shares were 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. The trade was a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Lear Stock Up 0.6%

Lear stock opened at $137.59 on Friday. The business has a fifty day moving average price of $121.51 and a 200-day moving average price of $110.05. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $142.84. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05.

Lear (NYSE:LEA) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.74. Lear had a return on equity of 13.40% and a net margin of 1.88%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter last year, the company earned $2.94 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. Lear’s dividend payout ratio is presently 37.79%.

Analyst Ratings Changes

A number of analysts recently weighed in on LEA shares. TD Cowen upped their price objective on shares of Lear from $117.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of Lear from $133.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price objective on shares of Lear in a report on Thursday, January 15th. Finally, Wells Fargo & Company upped their target price on Lear from $123.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Lear currently has a consensus rating of “Hold” and a consensus price target of $135.10.

Lear Company 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.