Amalgamated Bank Acquires 751 Shares of Lear Co. (NYSE:LEA)

Amalgamated Bank raised its stake in Lear Co. (NYSE:LEA) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,684 shares of the auto parts company’s stock after acquiring an additional 751 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Lear worth $5,745,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Lear in the fourth quarter valued at approximately $56,000. Covestor Ltd raised its holdings in Lear by 131.9% in the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp boosted its position in Lear by 21.0% during the 3rd quarter. Fifth Third Bancorp now owns 622 shares of the auto parts company’s stock worth $83,000 after buying an additional 108 shares during the period. Finally, Quent Capital LLC grew its holdings in Lear by 41.3% during the 4th quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock worth $123,000 after acquiring an additional 255 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LEA shares. Citigroup dropped their price target on shares of Lear from $145.00 to $141.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price target on Lear from $134.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Barclays cut their price objective on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Morgan Stanley raised their price target 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Insider Transactions at Lear

In other Lear news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Raymond E. Scott sold 10,652 shares of the company’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 sale, the chief executive officer now directly owns 13,627 shares in the company, valued at approximately $1,810,483.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Lear Trading Up 0.5 %

NYSE:LEA opened at $127.81 on Tuesday. The firm has a 50-day moving average of $138.07 and a 200-day moving average of $135.59. The company has a market cap of $7.26 billion, a PE ratio of 13.94, a PEG ratio of 0.31 and a beta of 1.55. Lear Co. has a one year low of $120.48 and a one year high of $157.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04.

Lear (NYSE:LEA) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.78 EPS. As a group, equities research analysts expect that Lear Co. will post 14.47 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, March 7th. Lear’s dividend payout ratio is currently 33.59%.

Lear 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.