Holderness Investments Co. decreased its stake in shares of Lear Co. (NYSE:LEA) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,520 shares of the auto parts company’s stock after selling 354 shares during the period. Holderness Investments Co.’s holdings in Lear were worth $436,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lear by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after purchasing an additional 48 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Lear by 10.9% during the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Lear in the second quarter valued at $126,000. Global X Management Co. LLC boosted its holdings in Lear by 16.5% in the second quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock valued at $145,000 after acquiring an additional 145 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Lear by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after acquiring an additional 42 shares during the last quarter. 93.27% of the stock is owned by institutional investors.
In other Lear news, EVP Terrence B. Larkin sold 1,137 shares of Lear stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $177.74, for a total value of $202,090.38. Following the completion of the transaction, the executive vice president now directly owns 6,912 shares in the company, valued at $1,228,538.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the completion of the transaction, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,541 shares of company stock valued at $1,803,772. 0.49% of the stock is owned by corporate insiders.
Lear (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. The firm had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. Lear had a return on equity of 31.60% and a net margin of 6.17%. Lear’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. equities analysts anticipate that Lear Co. will post 16.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, December 7th. Lear’s dividend payout ratio is currently 12.47%.
Several research analysts have commented on the company. Zacks Investment Research lowered Lear from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cowen and Company reissued a “buy” rating and issued a $196.00 price objective on shares of Lear in a research report on Friday, October 27th. Barclays PLC raised their price objective on Lear from $171.00 to $175.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Deutsche Bank AG raised their price objective on Lear from $167.00 to $176.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Guggenheim lowered Lear from a “buy” rating to a “neutral” rating and set a $167.00 price objective on the stock. in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $173.13.
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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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