Steward Partners Investment Advisory LLC Takes Position in Lear Corporation (LEA)

Steward Partners Investment Advisory LLC acquired a new stake in Lear Corporation (NYSE:LEA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,723 shares of the auto parts company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC World Markets Inc. boosted its stake in Lear by 0.3% in the second quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock valued at $1,798,000 after acquiring an additional 40 shares in the last quarter. Parallel Advisors LLC boosted its stake 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 in the last quarter. Pacer Advisors Inc. boosted its stake in Lear by 2.8% in the second quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock valued at $346,000 after acquiring an additional 66 shares in the last quarter. Strs Ohio boosted its stake in Lear by 1.7% in the second quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock valued at $698,000 after acquiring an additional 80 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Lear by 10.9% in the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after buying an additional 84 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

A number of equities research analysts have recently commented on LEA shares. Robert W. Baird reaffirmed a “buy” rating and issued a $178.00 target price on shares of Lear in a report on Friday, September 1st. Guggenheim cut shares of Lear from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a report on Thursday, October 26th. Deutsche Bank upped their target price on shares of Lear from $167.00 to $176.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Cowen reaffirmed a “buy” rating and issued a $196.00 target price on shares of Lear in a report on Friday, October 27th. Finally, BidaskClub raised shares of Lear from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $173.13.

In related news, SVP Mel Stephens sold 796 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total transaction of $142,484.00. Following the completion of the transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $7,160,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total transaction of $494,855.06. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at $1,345,679.79. The disclosure for this sale can be found here. Insiders have sold 7,198 shares of company stock valued at $1,256,243 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Lear Corporation (NYSE:LEA) opened at $177.37 on Wednesday. The stock has a market cap of $11,925.15, a PE ratio of 10.75, a P/E/G ratio of 1.47 and a beta of 1.43. Lear Corporation has a 1-year low of $131.82 and a 1-year high of $181.38. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.

Lear (NYSE:LEA) last posted its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.16. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Lear had a net margin of 5.79% and a return on equity of 31.79%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. analysts predict that Lear Corporation will post 16.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.00 annualized dividend and a yield of 1.13%. Lear’s dividend payout ratio is currently 12.47%.

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About Lear

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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