Lear Corporation (LEA) Shares Bought by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec increased its stake in Lear Corporation (NYSE:LEA) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,700 shares of the auto parts company’s stock after purchasing an additional 600 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Lear were worth $5,336,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of LEA. Strs Ohio boosted its stake in Lear by 1.7% in the second quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock worth $698,000 after buying an additional 80 shares in the last quarter. Bessemer Group Inc. boosted its stake in Lear by 27.3% in the second quarter. Bessemer Group Inc. now owns 2,506 shares of the auto parts company’s stock worth $356,000 after buying an additional 538 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Lear in the second quarter worth approximately $276,000. HL Financial Services LLC boosted its stake in Lear by 1.9% in the second quarter. HL Financial Services LLC now owns 3,571 shares of the auto parts company’s stock worth $507,000 after buying an additional 67 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in Lear by 16.5% in the second quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after buying an additional 145 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.
Shares of Lear Corporation (NYSE LEA) opened at $177.07 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34. The firm has a market capitalization of $11,963.03, a P/E ratio of 10.78, a PEG ratio of 1.47 and a beta of 1.43. Lear Corporation has a 52 week low of $131.82 and a 52 week high of $181.38.
Lear (NYSE:LEA) last announced its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. The company had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. Lear had a return on equity of 31.79% and a net margin of 5.79%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 earnings per share. sell-side analysts forecast that Lear Corporation will post 16.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. Lear’s dividend payout ratio is presently 12.47%.
Several analysts have issued reports on the company. Barclays set a $171.00 target price on Lear and gave the stock a “hold” rating in a research note on Friday, October 20th. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Wednesday, October 18th. Jefferies Group initiated coverage on Lear in a research note on Thursday, September 28th. They set a “buy” rating and a $197.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $180.00 price objective on shares of Lear in a research note on Sunday, September 17th. Finally, UBS lowered Lear from a “buy” rating to a “neutral” rating and increased their price objective for the company from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $173.13.
In related news, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total transaction of $142,484.00. Following the completion of the transaction, the senior vice president now owns 40,000 shares in the company, valued at $7,160,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at approximately $683,511. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,337 shares of company stock valued at $1,946,256. 0.49% of the stock is owned by corporate insiders.
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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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