Lear Corporation (LEA) Position Lifted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. increased its holdings in shares of Lear Corporation (NYSE:LEA) by 37.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,061 shares of the auto parts company’s stock after acquiring an additional 826 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lear were worth $530,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of LEA. Balyasny Asset Management LLC increased its holdings in shares of Lear by 7,465.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after acquiring an additional 706,708 shares during the last quarter. Boston Partners increased its holdings in shares of Lear by 138.6% during the 3rd quarter. Boston Partners now owns 1,169,464 shares of the auto parts company’s stock worth $202,411,000 after acquiring an additional 679,345 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Lear during the 2nd quarter worth approximately $485,000. Harbour Capital Advisors LLC increased its holdings in shares of Lear by 14,108.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock worth $1,575,000 after acquiring an additional 222,201 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Lear by 25.3% during the 3rd quarter. APG Asset Management N.V. now owns 788,621 shares of the auto parts company’s stock worth $136,495,000 after acquiring an additional 159,000 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.
LEA has been the topic of a number of recent analyst reports. Jefferies Group initiated coverage on Lear in a report on Thursday, September 28th. They set a “buy” rating and a $197.00 target price on the stock. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Wednesday, October 18th. KeyCorp upped their price objective on Lear from $180.00 to $184.00 and gave the company a “buy” rating in a report on Friday, October 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Lear in a report on Friday, September 1st. Finally, BidaskClub raised Lear from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $173.13.
Lear (NYSE:LEA) last released its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. Lear had a return on equity of 31.79% and a net margin of 5.79%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. sell-side analysts anticipate that Lear Corporation will post 16.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. Lear’s payout ratio is 12.22%.
In other news, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total transaction of $142,484.00. Following the completion of the sale, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $7,160,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the sale, 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. Over the last quarter, insiders have sold 11,337 shares of company stock valued at $1,946,256. Corporate insiders own 0.49% of the company’s stock.
Lear Company 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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