First Trust Advisors LP Raises Stock Position in Lear Corporation $LEA

First Trust Advisors LP raised its holdings in shares of Lear Corporation (NYSE:LEA) by 56.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,353 shares of the auto parts company’s stock after acquiring an additional 180,005 shares during the quarter. First Trust Advisors LP’s holdings in Lear were worth $49,938,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. WealthCollab LLC purchased a new stake in shares of Lear during the second quarter worth about $28,000. Quent Capital LLC bought a new position in Lear in the 3rd quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its stake in Lear by 34.0% in the 3rd 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. Rothschild Investment LLC purchased a new stake in Lear during the 3rd quarter valued at approximately $48,000. Finally, Jones Financial Companies Lllp raised its position in shares of Lear by 130.4% during the third quarter. Jones Financial Companies Lllp now owns 470 shares of the auto parts company’s stock valued at $48,000 after buying an additional 266 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Buying and Selling

In other news, VP Marianne Vidershain sold 1,590 shares of Lear stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total value of $214,650.00. Following the completion of the transaction, the vice president owned 1,862 shares in the company, valued at approximately $251,370. The trade was a 46.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Harry Albert Kemp sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $136.31, for a total value of $954,170.00. Following the transaction, the senior vice president directly owned 17,423 shares in the company, valued at approximately $2,374,929.13. This represents a 28.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,220 shares of company stock worth $3,986,427 in the last 90 days. Company insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LEA shares. Bank of America assumed coverage on shares of Lear in a research report on Wednesday, March 4th. They set a “neutral” rating for the company. Wall Street Zen upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Benchmark assumed coverage on shares of Lear in a report on Thursday, February 19th. They set a “buy” rating and a $170.00 price objective for the company. Argus upgraded Lear to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Evercore boosted their target price on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $138.27.

Lear Stock Performance

Lear stock opened at $117.89 on Thursday. The company’s 50-day moving average price is $126.55 and its 200-day moving average price is $113.81. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. The company has a market cap of $5.98 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.86 and a beta of 1.26. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $142.84.

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

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 5th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, March 5th. Lear’s dividend payout ratio (DPR) is presently 37.79%.

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.