Russell Investments Group Ltd. Acquires 41,071 Shares of Lear Corporation $LEA

by · The Markets Daily

Russell Investments Group Ltd. boosted its holdings in shares of Lear Corporation (NYSE:LEA – Free Report) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,201 shares of the auto parts company’s stock after acquiring an additional 41,071 shares during the period. Russell Investments Group Ltd.’s holdings in Lear were worth $50,419,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. WealthCollab LLC purchased a new stake in Lear in the second quarter worth about $28,000. Quent Capital LLC purchased a new position in shares of Lear during the third quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its position in shares of Lear by 34.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 107 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lear by 130.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 470 shares of the auto parts company’s stock worth $48,000 after buying an additional 266 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Lear in the 3rd quarter worth approximately $48,000. Institutional investors own 97.04% of the company’s stock.

Insider Transactions at Lear

In related news, SVP Alicia J. Davis sold 6,630 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $132.98, for a total transaction of $881,657.40. Following the completion of the sale, the senior vice president owned 9,972 shares in the company, valued at approximately $1,326,076.56. This represents a 39.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marianne Vidershain sold 1,590 shares of the 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 completion of the transaction, the vice president directly owned 1,862 shares in the company, valued at approximately $251,370. This represents a 46.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,220 shares of company stock valued at $3,986,427 over the last 90 days. 0.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Lear from $146.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Bank of America began coverage on Lear in a research note on Wednesday, March 4th. They issued a “neutral” rating on the stock. TD Cowen lifted their price target on Lear from $117.00 to $133.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Benchmark initiated coverage on shares of Lear in a research note on Thursday, February 19th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Argus raised shares of Lear to a “strong-buy” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $138.27.

Read Our Latest Analysis on LEA

Lear Stock Performance

Shares of LEA stock opened at $117.89 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $126.55 and a 200-day moving average price of $113.81. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $142.84. The firm has a market capitalization of $5.98 billion, a PE ratio of 14.46, a P/E/G ratio of 0.86 and a beta of 1.26.

Lear (NYSE:LEA – Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. Lear had a net margin of 1.88% and a return on equity of 13.40%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

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 issued 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 dividend payout ratio is presently 37.79%.

Lear Profile

(Free Report)

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.

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