Lear Co. (NYSE:LEA) Shares Bought by Greenleaf Trust

Greenleaf Trust increased its position in Lear Co. (NYSE:LEA) by 16.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,984 shares of the auto parts company’s stock after purchasing an additional 570 shares during the period. Greenleaf Trust’s holdings in Lear were worth $563,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after purchasing an additional 252 shares in the last quarter. Fifth Third Bancorp grew its stake in Lear by 21.0% in the third quarter. Fifth Third Bancorp now owns 622 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 108 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Lear in the third quarter worth about $111,000. Quent Capital LLC grew its stake in Lear by 41.3% in the fourth quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock worth $123,000 after purchasing an additional 255 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its stake in Lear by 4,831.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 937 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 918 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares in the company, valued at $2,465,019.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares in the company, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Lear Stock Performance

LEA opened at $134.18 on Tuesday. The business’s 50 day moving average is $138.87 and its 200-day moving average is $135.89. The stock has a market cap of $7.64 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.33 and a beta of 1.54. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.54. Lear Co. has a twelve month low of $117.79 and a twelve month high of $157.90.

Lear (NYSE:LEA) last released its quarterly earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $2.81 EPS. On average, analysts predict that Lear Co. will post 14.52 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.30%. Lear’s dividend payout ratio (DPR) is presently 31.82%.

Analyst Upgrades and Downgrades

LEA has been the subject of a number of research reports. Barclays lifted their price target on Lear from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a report on Monday. Benchmark raised their target price on shares of Lear from $188.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Wells Fargo & Company raised their target price on shares of Lear from $130.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley raised their target price on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.44.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.