M&T Bank Corp Purchases 949,569 Shares of Lear Corporation $LEA

M&T Bank Corp boosted its stake in Lear Corporation (NYSE:LEA) by 46,707.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 951,602 shares of the auto parts company’s stock after purchasing an additional 949,569 shares during the period. M&T Bank Corp’s holdings in Lear were worth $109,054,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Pallas Capital Advisors LLC increased its stake in Lear by 4.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock worth $274,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC increased 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. Allworth Financial LP increased its stake in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the period. Lakewood Asset Management LLC increased its stake in Lear by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 13,644 shares of the auto parts company’s stock worth $1,564,000 after purchasing an additional 132 shares during the period. Finally, Signaturefd LLC increased its stake in Lear by 10.8% in the 4th quarter. Signaturefd LLC now owns 1,840 shares of the auto parts company’s stock worth $211,000 after purchasing an additional 179 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Price Performance

LEA opened at $128.48 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.35. Lear Corporation has a 52-week low of $79.14 and a 52-week high of $142.84. The stock has a market capitalization of $6.51 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.82 and a beta of 1.24. The stock’s 50 day moving average price is $124.30 and its 200-day moving average price is $116.66.

Lear (NYSE:LEA) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.74. Lear had a return on equity of 13.40% and a net margin of 1.88%.The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same period in the previous year, the firm earned $2.94 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Lear Corporation will post 14.18 EPS for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 5th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 5th. This represents a $3.08 annualized dividend and a dividend yield of 2.4%. Lear’s payout ratio is currently 37.79%.

Insider Transactions at Lear

In related news, SVP Harry Albert Kemp sold 7,000 shares of Lear stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $136.31, for a total transaction of $954,170.00. Following the sale, the senior vice president directly owned 17,423 shares in the company, valued at $2,374,929.13. The trade was a 28.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Marianne Vidershain sold 1,590 shares of Lear stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the sale, the vice president owned 1,862 shares in the company, valued at $251,370. This represents a 46.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,264 shares of company stock valued at $3,400,687. Company insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LEA shares. The Goldman Sachs Group decreased their price target on Lear from $129.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Bank of America started coverage on Lear in a research note on Wednesday, March 4th. They issued a “neutral” rating on the stock. Wall Street Zen raised Lear from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Morgan Stanley lifted their price target on Lear from $112.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus price target of $134.92.

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.