Lear Corporation (LEA) Position Reduced by American Century Companies Inc.
American Century Companies Inc. decreased its position in Lear Corporation (NYSE:LEA) by 36.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 38,990 shares of the auto parts company’s stock after selling 22,366 shares during the period. American Century Companies Inc. owned about 0.06% of Lear Corporation worth $6,748,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in Lear Corporation by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock worth $223,000 after buying an additional 20 shares in the last quarter. CIBC World Markets Inc. grew its position in Lear Corporation by 0.3% in the 2nd quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock worth $1,798,000 after purchasing an additional 40 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Lear Corporation by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after acquiring an additional 42 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Lear Corporation by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after acquiring an additional 48 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Lear Corporation by 2.8% in the second quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock worth $346,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.
Lear Corporation (LEA) opened at $176.64 on Wednesday. The stock has a market capitalization of $11,947.44, a PE ratio of 10.77, a P/E/G ratio of 1.47 and a beta of 1.44. Lear Corporation has a 52-week low of $125.87 and a 52-week high of $178.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.09.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. equities analysts expect that Lear Corporation will post 16.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th will be issued a $0.50 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.00 annualized dividend and a yield of 1.13%. Lear Corporation’s dividend payout ratio (DPR) is presently 12.47%.
In other Lear Corporation news, EVP Terrence B. Larkin sold 1,137 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $177.74, for a total value of $202,090.38. Following the sale, the executive vice president now owns 6,912 shares in the company, valued at $1,228,538.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the transaction, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,541 shares of company stock valued at $1,803,772. Insiders own 0.49% of the company’s stock.
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Several research firms have recently weighed in on LEA. BidaskClub cut shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC raised their price objective on shares of Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a report on Thursday, July 27th. Robert W. Baird restated a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a report on Friday, September 1st. KeyCorp reiterated a “buy” rating and issued a $180.00 price objective on shares of Lear Corporation in a research note on Sunday, September 17th. Finally, Cowen and Company initiated coverage on shares of Lear Corporation in a research note on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Lear Corporation has an average rating of “Hold” and a consensus target price of $173.13.
About Lear Corporation
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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