Lear Corporation $LEA Shares Bought by Oldfield Partners LLP

Oldfield Partners LLP raised its stake in Lear Corporation (NYSE:LEA) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 644,286 shares of the auto parts company’s stock after purchasing an additional 33,313 shares during the quarter. Lear accounts for 20.9% of Oldfield Partners LLP’s investment portfolio, making the stock its 2nd biggest holding. Oldfield Partners LLP’s holdings in Lear were worth $73,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. WealthCollab LLC acquired a new stake in shares of Lear during the second quarter worth $28,000. Allworth Financial LP grew its position in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after buying an additional 119 shares during the last quarter. Advisory Services Network LLC acquired a new position in Lear in the 3rd quarter valued at $33,000. Quent Capital LLC purchased a new position in Lear during the 3rd quarter worth $38,000. Finally, Farther Finance Advisors LLC raised its position in Lear by 34.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Wall Street Analyst Weigh In

LEA has been the topic of several analyst reports. Argus raised shares of Lear to a “strong-buy” rating in a report on Monday, February 9th. TD Cowen increased their price target on shares of Lear from $117.00 to $133.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Benchmark assumed coverage on shares of Lear in a research report on Thursday, February 19th. They issued a “buy” rating and a $170.00 price objective for the company. Citigroup lifted their price objective on Lear from $146.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company increased their target price on Lear from $123.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus target price of $138.00.

Insider Buying and Selling at Lear

In related news, VP Marianne Vidershain sold 1,590 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the sale, the vice president directly owned 1,862 shares in the company, valued at $251,370. The trade was a 46.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Harry Albert Kemp sold 7,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $136.31, for a total transaction of $954,170.00. Following the completion of the sale, the senior vice president directly owned 17,423 shares in the company, valued at approximately $2,374,929.13. The trade was a 28.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 25,264 shares of company stock valued at $3,400,687 over the last 90 days. 0.91% of the stock is currently owned by corporate insiders.

Lear Stock Performance

LEA opened at $118.68 on Tuesday. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $142.84. The stock has a market cap of $6.02 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.82 and a beta of 1.26. The stock’s 50 day simple moving average is $125.63 and its 200 day simple moving average is $114.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05.

Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.74. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.Lear’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.94 earnings per share. As a group, equities analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, March 5th. Lear’s payout ratio is 37.79%.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.