First Hawaiian Bank bought a new position in Lear Co. (NYSE:LEA) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,680 shares of the auto parts company’s stock, valued at approximately $1,062,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guinness Atkinson Asset Management Inc lifted its stake in Lear by 50.5% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 700 shares of the auto parts company’s stock worth $76,000 after purchasing an additional 235 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Lear in the 2nd quarter worth approximately $92,000. KCS Wealth Advisory purchased a new stake in Lear in the 3rd quarter worth approximately $207,000. Ironvine Capital Partners LLC purchased a new stake in shares of Lear during the 3rd quarter valued at $208,000. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of Lear during the 3rd quarter valued at $208,000. Institutional investors and hedge funds own 92.20% of the company’s stock.
Several analysts have recently weighed in on LEA shares. Barclays upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Thursday, December 17th. Argus upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Wednesday, December 16th. Zacks Investment Research cut shares of Lear from a “strong-buy” rating to a “hold” rating and set a $166.00 price objective on the stock. in a research report on Tuesday, December 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lear from $134.00 to $146.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Finally, Berenberg Bank started coverage on shares of Lear in a research report on Tuesday, October 6th. They set a “buy” rating and a $145.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $136.65.
Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, November 4th. The auto parts company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.51. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.71 billion. Lear had a net margin of 0.50% and a return on equity of 6.17%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.54 EPS. As a group, analysts forecast that Lear Co. will post 4.98 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Thursday, December 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Wednesday, December 9th. Lear’s dividend payout ratio (DPR) is presently 7.15%.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, South America, and internationally. Its Seating segment offers leather and fabric products, seat covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles.
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