V Wealth Management LLC Acquires 679 Shares of Lear Co. (LEA)
V Wealth Management LLC raised its position in Lear Co. (NYSE:LEA) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,091 shares of the auto parts company’s stock after buying an additional 679 shares during the period. Lear makes up 1.5% of V Wealth Management LLC’s portfolio, making the stock its 14th largest position. V Wealth Management LLC’s holdings in Lear were worth $2,425,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. First Interstate Bank raised its stake in Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the auto parts company’s stock worth $102,000 after buying an additional 30 shares during the last quarter. Financial Architects Inc raised its stake in Lear by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the auto parts company’s stock worth $123,000 after buying an additional 1,000 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Lear during the fourth quarter worth $124,000. Harvest Fund Management Co. Ltd purchased a new stake in Lear during the fourth quarter worth $139,000. Finally, Parallel Advisors LLC purchased a new stake in Lear during the fourth quarter worth $142,000. Institutional investors own 97.32% of the company’s stock.
Shares of Lear Co. (NYSE:LEA) traded down 1.17% during trading on Friday, reaching $139.05. 600,913 shares of the company’s stock traded hands. Lear Co. has a 1-year low of $97.35 and a 1-year high of $149.00. The company has a 50 day moving average price of $139.65 and a 200 day moving average price of $133.87. The stock has a market capitalization of $9.65 billion, a PE ratio of 10.43 and a beta of 1.27.
Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, January 26th. The auto parts company reported $3.80 EPS for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.36. The firm earned $4.64 billion during the quarter, compared to the consensus estimate of $4.74 billion. Lear had a return on equity of 32.21% and a net margin of 5.25%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS. On average, equities analysts forecast that Lear Co. will post $15.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Friday, March 3rd were paid a dividend of $0.50 per share. This is an increase from Lear’s previous quarterly dividend of $0.30. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, March 1st. Lear’s dividend payout ratio is presently 9.00%.
A number of analysts recently weighed in on LEA shares. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Tuesday, April 4th. Berenberg Bank started coverage on shares of Lear in a research note on Friday, March 31st. They set a “buy” rating and a $175.00 target price on the stock. Barclays PLC upped their target price on shares of Lear from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 12th. Morgan Stanley lowered shares of Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 target price on the stock. in a research note on Tuesday, February 21st. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $157.00 target price on shares of Lear and gave the stock a “hold” rating in a research note on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $143.36.
In other Lear news, Director Thomas P. Capo sold 1,500 shares of the business’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the completion of the transaction, the director now owns 345 shares in the company, valued at approximately $50,476.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Simoncini sold 96,980 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $142.71, for a total value of $13,840,015.80. Following the transaction, the chief executive officer now owns 66,138 shares of the company’s stock, valued at approximately $9,438,553.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,476 shares of company stock valued at $30,080,372. 0.33% of the stock is owned by company insiders.
Lear Company Profile
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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