Great West Life Assurance Co. may reduce its stake in Lear Co. (NYSE: LEA – Get an estimate) in the third quarter by 1.4%, according to the latest statement submitted to the Securities and Exchange Commission. The firm owned 106,979 shares of the auto parts company’s stock after selling 1,526 shares during the quarter. Great West Life Assurance Co. Can owned 0.18% of Lear worth $12,789,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Credit Suisse AG boosted its position in Lear by 39.2% during the 2nd quarter. Credit Suisse AG now owns 84,392 shares of the auto parts company’s stock worth $10,624,000 after acquiring an additional 23,775 shares during the period. Rhumbline Advisers boosted its holdings in shares of Lear by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 175,881 shares of the auto parts company’s stock valued at $22,142,000 after purchasing an additional 17,118 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Lear by 9.5% during the 2nd quarter. Greenleaf Trust now owns 3,606 shares of the auto parts company’s stock worth $454,000 after purchasing an additional 314 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in shares of Lear during the 2nd quarter worth about $202,000. Finally, Shell Asset Management Co boosted its holdings in shares of Lear by 11.5% during the 2nd quarter. Shell Asset Management Co. now owns 6,551 shares of the auto parts company’s stock worth $825,000 after purchasing an additional 677 shares in the last quarter. 99.56% of shares are currently owned by institutional investors and hedge funds.
Learn about stock returns
Shares NYSE LEA opened at $136.14 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.33, and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $134.18 and a two hundred day moving average of $135.12. The company has a market cap of $8.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 0.29 and a beta of 1.50. Lear Co. The 12 month low is $114.67 and the 12 month high is $189.42.
Lear (NYSE: LEA – Get an estimate) last released its quarterly earnings results on Tuesday, November 1st. The auto parts company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Lear had a return on equity of 9.21% and a net margin of 1.14%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.13 billion. On average, equities analysts expect that Lear Co. has 8.44 EPS for the current year.
Lear dividend announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 27th. Shareholders of record on Wednesday, December 7th were paid a dividend of $0.77 per share. This translates to an annualized dividend of $3.08 and a dividend yield of 2.26%. The ex-dividend date was Tuesday, December 6th. Lear’s payout ratio is currently 79.79%.
Wall Street analysts predict economic growth
A number of equities research analysts have recently weighed in on LEA shares. TheStreet upgraded Lear from a “c+” rating to a “b-” rating in a research note on Friday, November 11th. Deutsche Bank Aktiengesellschaft reduced their target price on Lear from $155.00 to $138.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada dropped their price target on Lear from $142.00 to $137.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Morgan Stanley decreased their price target on Lear from $140.00 to $133.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 2nd. Finally, Wells Fargo & Company downgraded Lear from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $149.00 to $139.00 in a research note on Wednesday, December 14th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $157.38, according to MarketBeat.
Insider trading in Lear
In other news, the CEO Raymond E. Scott sold 500 shares of Lear stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $138.45, for a total transaction amounting to $69,225.00. Following the sale, the chief executive officer now owns 22,882 shares in the company, valued at approximately $3,168,012.90. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at SEC website. In related news, CFO Jason M. Cardew sold 1,000 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $143.66 for a total value of $143,660.00. Following the sale, the chief financial officer now owns 9,721 shares in the company, valued at approximately $1,396,518.86. The sale was disclosed in an SEC legal filing that is available this link. Also, CEO Raymond E. Scott sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $138.45, for a total value of $69,225.00. Following the completion of the sale, the chief executive officer now directly owns 22,882 shares in the company, valued at approximately $3,168,012.90. You can find this sale disclosure here. Over the last quarter, insiders have sold 35,970 shares of company stock valued at $5,216,989. 0.67% of shares belong to company insiders.
Lear Corporation designs, develops, engineers, manufactures, assembles and supplies automotive seats, power distribution systems and related components to automotive original equipment manufacturers in North America, Europe, Africa, Asia and South America. Its seating segment offers seating systems, seating subsystems, key seat components, seat covers, seat mechanisms, seat foams and headrests, as well as surface materials such as leather and fabric for cars and light trucks, compact cars, pickup trucks. and commercial vehicles.
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