Lear Corporation $LEA Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in Lear Corporation (NYSE:LEA) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 66,098 shares of the auto parts company’s stock after buying an additional 2,337 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Lear were worth $6,246,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LEA. IFP Advisors Inc grew its stake in shares of Lear by 1,384.2% during the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 263 shares in the last quarter. WPG Advisers LLC acquired a new stake in Lear in the first quarter valued at about $39,000. GAMMA Investing LLC lifted its position in Lear by 57.9% in the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock valued at $83,000 after purchasing an additional 344 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of Lear by 2,682.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after acquiring an additional 939 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of Lear by 955.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,003 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the transaction, the chief executive officer directly owned 38,729 shares in the company, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total transaction of $492,350.00. Following the transaction, the chief financial officer owned 20,244 shares in the company, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group set a $104.00 target price on shares of Lear in a research note on Monday, September 29th. Citigroup reissued a “neutral” rating on shares of Lear in a research report on Tuesday, October 14th. Wells Fargo & Company lowered their price objective on shares of Lear from $113.00 to $108.00 and set an “equal weight” rating for the company in a research report on Friday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of Lear from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.00.

Lear Trading Up 1.2%

Shares of Lear stock opened at $101.98 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5.43 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.80 and a beta of 1.32. Lear Corporation has a 12-month low of $73.85 and a 12-month high of $113.10. The company has a 50-day simple moving average of $104.26 and a 200 day simple moving average of $96.85.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.24. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $3.60 EPS. Research analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. Lear’s payout ratio is presently 35.94%.

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, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.