Lear Corporation (LEA) Holdings Raised by Sei Investments Co.
Sei Investments Co. boosted its stake in shares of Lear Corporation (NYSE:LEA) by 23.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,569 shares of the auto parts company’s stock after purchasing an additional 8,398 shares during the quarter. Sei Investments Co. owned about 0.07% of Lear Corporation worth $7,714,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Lear Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 6,409,081 shares of the auto parts company’s stock worth $910,602,000 after purchasing an additional 158,042 shares during the period. LSV Asset Management boosted its position in Lear Corporation by 1.9% during the second quarter. LSV Asset Management now owns 2,499,675 shares of the auto parts company’s stock worth $355,153,000 after purchasing an additional 46,353 shares during the period. AJO LP boosted its position in Lear Corporation by 1.6% during the second quarter. AJO LP now owns 1,654,084 shares of the auto parts company’s stock worth $235,012,000 after purchasing an additional 25,444 shares during the period. Boston Partners boosted its position in Lear Corporation by 138.6% during the third quarter. Boston Partners now owns 1,169,464 shares of the auto parts company’s stock worth $202,411,000 after purchasing an additional 679,345 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Lear Corporation by 2.5% during the second quarter. TIAA CREF Investment Management LLC now owns 976,654 shares of the auto parts company’s stock worth $138,763,000 after purchasing an additional 23,718 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.
In other Lear Corporation news, EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now directly owns 6,912 shares in the company, valued at $1,228,538.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Insiders sold 10,541 shares of company stock valued at $1,803,772 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. Lear Corporation’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. research analysts predict that Lear Corporation will post 16.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. Lear Corporation’s payout ratio is 12.47%.
LEA has been the subject of a number of recent analyst reports. Guggenheim cut Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a research report on Thursday, October 26th. Barclays PLC set a $171.00 price objective on Lear Corporation and gave the company a “hold” rating in a research report on Friday, October 20th. UBS Group AG cut Lear Corporation from a “buy” rating to a “neutral” rating and increased their price objective for the company from $158.00 to $182.00 in a research report on Tuesday, October 3rd. Jefferies Group LLC started coverage on Lear Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective for the company. Finally, Robert W. Baird reissued a “buy” rating and issued a $178.00 price objective on shares of Lear Corporation in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $173.13.
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Lear Corporation Profile
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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