UBS Group AG increased its holdings in shares of Lear Corporation (NYSE:LEA – Free Report) by 67.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 464,439 shares of the auto parts company’s stock after acquiring an additional 186,809 shares during the quarter. UBS Group AG’s holdings in Lear were worth $53,225,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in LEA. WealthCollab LLC acquired a new position in shares of Lear during the 2nd quarter worth about $28,000. Allworth Financial LP lifted its position in shares of Lear by 62.6% during 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 last quarter. Advisory Services Network LLC acquired a new position in shares of Lear during the 3rd quarter worth about $33,000. Quent Capital LLC acquired a new position in shares of Lear during the 3rd quarter worth about $38,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Lear by 34.0% during 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 last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
Lear Trading Up 1.4%
Shares of LEA stock opened at $131.70 on Wednesday. Lear Corporation has a 52-week low of $82.88 and a 52-week high of $142.84. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.82 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. The firm has a fifty day moving average of $122.82 and a 200-day moving average of $118.22.
Lear Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, March 5th. Lear’s dividend payout ratio is currently 30.80%.
Insider Buying and Selling
In other Lear news, SVP Harry Albert Kemp sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president directly owned 17,423 shares in the company, valued at $2,374,929.13. This represents a 28.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Marianne Vidershain sold 1,590 shares of the stock in a transaction 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 transaction, the vice president owned 1,862 shares of the company’s stock, valued at $251,370. This represents a 46.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 25,264 shares of company stock valued at $3,400,687. 1.02% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on LEA. Citigroup boosted their price objective on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday. Argus raised shares of Lear to a “strong-buy” rating in a research report on Monday, February 9th. Barclays upped their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America began coverage on shares of Lear in a research report on Wednesday, March 4th. They set a “neutral” rating for the company. Finally, Morgan Stanley set a $130.00 price objective on shares of Lear in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lear presently has a consensus rating of “Hold” and a consensus target price of $139.38.
Check Out Our Latest Stock Analysis on LEA
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.
Further Reading
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