Gulf International Bank UK Ltd Has $3.124 Million Stake in Lear Co. (LEA)
Gulf International Bank UK Ltd raised its position in Lear Co. (NYSE:LEA) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 22,070 shares of the auto parts company’s stock after buying an additional 100 shares during the period. Gulf International Bank UK Ltd’s holdings in Lear were worth $3,124,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in LEA. First Interstate Bank raised its stake in Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the auto parts company’s stock valued at $102,000 after buying an additional 30 shares in the last quarter. Financial Architects Inc raised its stake in Lear by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the auto parts company’s stock valued at $123,000 after buying an additional 1,000 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Lear during the fourth quarter valued at about $124,000. Harvest Fund Management Co. Ltd purchased a new stake in Lear during the fourth quarter valued at about $139,000. Finally, Parallel Advisors LLC purchased a new stake in Lear during the fourth quarter valued at about $142,000. Hedge funds and other institutional investors own 97.32% of the company’s stock.
Shares of Lear Co. (NYSE:LEA) opened at 140.69 on Friday. The firm has a 50-day moving average of $139.65 and a 200 day moving average of $133.87. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 10.55 and a beta of 1.27. Lear Co. has a 12 month low of $97.35 and a 12 month high of $149.00.
Lear (NYSE:LEA) last issued its earnings results on Thursday, January 26th. The auto parts company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.36. Lear had a return on equity of 32.21% and a net margin of 5.25%. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company earned $3.20 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Lear Co. will post $15.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Friday, March 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, March 1st. This is a positive change from Lear’s previous quarterly dividend of $0.30. Lear’s dividend payout ratio (DPR) is 9.00%.
Several analysts recently issued reports on LEA shares. Zacks Investment Research lowered shares of Lear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Morgan Stanley lowered shares of Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 price target on the stock. in a research report on Tuesday, February 21st. They noted that the move was a valuation call. Royal Bank of Canada set a $157.00 price target on shares of Lear and gave the stock a “hold” rating in a research report on Thursday, January 26th. Barclays PLC increased their price target on shares of Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 12th. Finally, Evercore ISI lowered shares of Lear from a “buy” rating to a “hold” rating and increased their price target for the stock from $140.00 to $142.00 in a research report on Wednesday, January 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $143.36.
In other Lear news, Director Thomas P. Capo sold 1,500 shares of Lear stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the transaction, the director now owns 345 shares of the company’s stock, valued at $50,476.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Shari L. Burgess sold 8,233 shares of Lear stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $142.70, for a total value of $1,174,849.10. Following the transaction, the vice president now directly owns 5,172 shares in the company, valued at approximately $738,044.40. The disclosure for this sale can be found here. Insiders have sold a total of 210,476 shares of company stock worth $30,080,372 in the last three months. Corporate insiders own 0.33% of the company’s stock.
Lear Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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