Lear Corporation $LEA Stock Sold by Leuthold Group LLC

Leuthold Group LLC trimmed its stake in shares of Lear Corporation (NYSE:LEA – Free Report) by 19.0% in the third quarter, Holdings Channel.com reports. The fund owned 37,149 shares of the auto parts company’s stock after selling 8,715 shares during the period. Leuthold Group LLC’s holdings in Lear were worth $4,385,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fulcrum Asset Management LLP purchased a new position in Lear in the 3rd quarter valued at approximately $990,000. CenterBook Partners LP purchased a new stake in Lear during the third quarter worth $431,000. Chicago Partners Investment Group LLC boosted its position in Lear by 88.1% during the third quarter. Chicago Partners Investment Group LLC now owns 5,890 shares of the auto parts company’s stock worth $687,000 after purchasing an additional 2,759 shares in the last quarter. Covestor Ltd grew its holdings in Lear by 17.0% in the third quarter. Covestor Ltd now owns 1,101 shares of the auto parts company’s stock valued at $130,000 after purchasing an additional 160 shares during the last quarter. Finally, Provenance Wealth Advisors LLC grew its holdings in Lear by 5,166.7% in the third quarter. Provenance Wealth Advisors LLC now owns 474 shares of the auto parts company’s stock valued at $56,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Analyst Ratings Changes

LEA has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft set a $131.00 price objective on shares of Lear in a research report on Monday, August 3rd. Royal Bank Of Canada lowered their price objective on shares of Lear from $139.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Monday, November 2nd. Barclays dropped their target price on shares of Lear from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Finally, The Goldman Sachs Group cut their target price on shares of Lear from $140.00 to $124.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.25.

View Our Latest Report on Lear

Insider Activity at Lear

In related news, CFO Jason Cardew sold 5,000 shares of Lear stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $117.75, for a total transaction of $588,750.00. Following the completion of the sale, the chief financial officer owned 8,241 shares in the company, valued at approximately $970,377.75. This trade represents a 37.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by insiders.

Lear Price Performance

LEA stock opened at $111.08 on Tuesday. Lear Corporation has a 1 year low of $99.00 and a 1 year high of $150.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 1.18. The stock’s 50 day moving average price is $121.10 and its 200 day moving average price is $128.15. The firm has a market cap of $5.35 billion, a P/E ratio of 9.70, a PEG ratio of 0.67 and a beta of 1.28.

Lear (NYSE:LEA – Get Free Report) last released its quarterly earnings results on Friday, October 30th. The auto parts company reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.39. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.81 billion. Lear had a return on equity of 14.92% and a net margin of 2.46%. Lear’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. On average, sell-side analysts expect that Lear Corporation will post 15.15 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.8%. Lear’s dividend payout ratio (DPR) is presently 26.90%.

Lear announced that its board has initiated a stock buyback program on Thursday, September 24th that permits the company to buy back $1.50 billion in shares. This buyback authorization permits the auto parts company to repurchase up to 25.7% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Lear

(Free Report)

Lear Corporation is a global automotive technology supplier that designs and manufactures products for vehicle seating and electrical systems. Its customers include automakers around the world, and its products are used in a range of vehicle types.

The company’s seating business provides complete seating systems and components, including seat structures, mechanisms, foam and trim. Its E-Systems business develops electrical distribution systems, connectivity solutions and electronic components that help manage power and data within vehicles.

Lear traces its origins to 1917, when it was established as American Metal Products.

See Also

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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