Two Sigma Advisers LP reduced its stake in shares of Lear Co. (NYSE:LEA) by 36.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,536 shares of the auto parts company’s stock after selling 95,000 shares during the quarter. Two Sigma Advisers LP owned about 0.24% of Lear worth $28,714,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Martingale Asset Management L P raised its stake in Lear by 47.2% during the 4th quarter. Martingale Asset Management L P now owns 120,614 shares of the auto parts company’s stock worth $21,309,000 after acquiring an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lear by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 933,481 shares of the auto parts company’s stock worth $161,573,000 after acquiring an additional 42,464 shares in the last quarter. Toronto Dominion Bank raised its stake in Lear by 37.4% during the 4th quarter. Toronto Dominion Bank now owns 4,008 shares of the auto parts company’s stock worth $709,000 after acquiring an additional 1,092 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Lear by 126.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 49,245 shares of the auto parts company’s stock worth $7,214,000 after acquiring an additional 27,527 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Lear by 218.1% during the 4th quarter. State of Alaska Department of Revenue now owns 8,474 shares of the auto parts company’s stock worth $1,495,000 after acquiring an additional 5,810 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Several equities research analysts recently commented on LEA shares. ValuEngine upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Deutsche Bank upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research note on Wednesday, February 7th. Robert W. Baird reiterated a “buy” rating and set a $213.00 price target on shares of Lear in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $221.00 price objective on the stock in a research note on Thursday, February 1st. Finally, Guggenheim set a $206.00 price objective on shares of Lear and gave the company a “hold” rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $190.95.
In other news, SVP Mel Stephens sold 17,006 shares of Lear stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $193.00, for a total value of $3,282,158.00. Following the sale, the senior vice president now owns 15,694 shares of the company’s stock, valued at $3,028,942. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Donald L. Runkle sold 1,000 shares of Lear stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $190.67, for a total transaction of $190,670.00. Following the completion of the sale, the director now directly owns 2,944 shares in the company, valued at approximately $561,332.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,115 shares of company stock worth $49,699,331. Insiders own 0.49% of the company’s stock.
Shares of Lear Co. (LEA) opened at $190.73 on Friday. The firm has a market cap of $12,763.65, a PE ratio of 11.22 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 0.45. Lear Co. has a fifty-two week low of $132.01 and a fifty-two week high of $202.42.
Lear (NYSE:LEA) last issued its earnings results on Friday, January 26th. The auto parts company reported $4.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.25 by $0.13. The business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.27 billion. Lear had a net margin of 6.42% and a return on equity of 30.32%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.80 earnings per share. sell-side analysts expect that Lear Co. will post 18.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Wednesday, March 7th will be issued a $0.70 dividend. This is an increase from Lear’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 1.47%. Lear’s payout ratio is presently 15.05%.
Lear announced that its board has approved a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $954.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
COPYRIGHT VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://ledgergazette.com/2018/03/18/lear-co-lea-shares-sold-by-two-sigma-advisers-lp.html.
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.
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.