V Wealth Management LLC Trims Holdings in Lear Co. (LEA)
V Wealth Management LLC decreased its position in shares of Lear Co. (NYSE:LEA) by 5.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,649 shares of the auto parts company’s stock after selling 896 shares during the quarter. Lear makes up approximately 1.5% of V Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. V Wealth Management LLC’s holdings in Lear were worth $2,925,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in shares of Lear by 10.9% in the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 84 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in shares of Lear in the 2nd quarter valued at $126,000. Crossmark Global Holdings Inc. acquired a new position in shares of Lear in the 3rd quarter valued at $210,000. Calamos Advisors LLC acquired a new position in shares of Lear in the 3rd quarter valued at $216,000. Finally, Balasa Dinverno & Foltz LLC acquired a new position in shares of Lear in the 3rd quarter valued at $254,000. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on LEA shares. Jefferies Group started coverage on Lear in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price target on the stock. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Wednesday, October 18th. KeyCorp increased their price target on Lear from $180.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Cowen reissued a “buy” rating and issued a $196.00 price target on shares of Lear in a research note on Friday, October 27th. Finally, Longbow Research started coverage on Lear in a research note on Friday, January 5th. They issued a “buy” rating and a $225.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $179.50.
Lear (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the Zacks’ consensus estimate of $3.80 by $0.16. Lear had a net margin of 5.79% and a return on equity of 31.79%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the prior year, the company earned $3.19 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. research analysts predict that Lear Co. will post 16.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 8th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, December 7th. Lear’s dividend payout ratio is currently 12.22%.
In other Lear news, EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now owns 6,912 shares in the company, valued at approximately $1,228,538.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mel Stephens sold 796 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total value of $142,484.00. Following the transaction, the senior vice president now owns 40,000 shares of the company’s stock, valued at approximately $7,160,000. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.
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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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