Jefferies Financial Group Inc. Acquires New Holdings in Lear Corporation $LEA

Jefferies Financial Group Inc. purchased a new position in shares of Lear Corporation (NYSE:LEA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,101 shares of the auto parts company’s stock, valued at approximately $699,000.

A number of other hedge funds also recently modified their holdings of LEA. M&T Bank Corp raised its position in shares of Lear by 46,707.8% during the fourth quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock worth $109,054,000 after purchasing an additional 949,569 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Lear during the second quarter worth about $39,656,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Lear during the third quarter worth about $40,984,000. American Century Companies Inc. raised its position in shares of Lear by 23.6% during the third quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock worth $157,891,000 after purchasing an additional 299,841 shares during the period. Finally, UBS Group AG raised its position in shares of Lear by 67.3% during the fourth quarter. UBS Group AG now owns 464,439 shares of the auto parts company’s stock worth $53,225,000 after purchasing an additional 186,809 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Down 2.5%

Shares of Lear stock opened at $143.24 on Friday. The business’s 50 day simple moving average is $128.14 and its 200 day simple moving average is $122.45. Lear Corporation has a 52-week low of $86.14 and a 52-week high of $149.16. The firm has a market cap of $7.18 billion, a PE ratio of 14.32, a P/E/G ratio of 0.75 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.12 earnings per share. On average, analysts predict that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is currently 30.80%.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: TD Cowen upgraded Lear, which can boost investor sentiment by signaling improved expectations for the auto supplier’s earnings outlook and valuation. TD Cowen upgrades Lear (LEA)
• Positive Sentiment: Zacks highlighted Lear as a top long-term value stock, reinforcing the investment case for LEA as a relatively inexpensive stock with potential upside. Why Lear (LEA) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Lear announced it will participate in Wells Fargo’s 16th Annual Industrials & Materials Conference on June 10, which keeps the company visible to investors but is not a material operating update. Lear to Participate in Wells Fargo’s 16th Annual Industrials & Materials Conference

Analyst Ratings Changes

A number of research firms have recently commented on LEA. Wells Fargo & Company raised their price target on Lear from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. The Goldman Sachs Group raised their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their price target on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a research report on Monday, May 4th. Finally, Barclays lifted their target price on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.08.

Insiders Place Their Bets

In other Lear news, SVP Nicholas Jon Roelli sold 2,336 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the transaction, the senior vice president directly owned 2,339 shares in the company, valued at $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by corporate insiders.

Lear 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.