Standard Life Aberdeen plc reduced its position in Lear Co. (NYSE:LEA) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,117 shares of the auto parts company’s stock after selling 7,148 shares during the period. Standard Life Aberdeen plc’s holdings in Lear were worth $38,982,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allred Capital Management LLC acquired a new position in Lear during the fourth quarter worth $50,000. Ancora Advisors LLC acquired a new stake in shares of Lear in the 4th quarter worth about $56,000. Simon Quick Advisors LLC raised its holdings in shares of Lear by 41.5% in the 4th quarter. Simon Quick Advisors LLC now owns 566 shares of the auto parts company’s stock worth $78,000 after acquiring an additional 166 shares during the last quarter. Guinness Atkinson Asset Management Inc bought a new position in Lear in the 4th quarter valued at about $80,000. Finally, Quadrant Capital Group LLC lifted its position in Lear by 34.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,211 shares of the auto parts company’s stock valued at $162,000 after acquiring an additional 312 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.
A number of brokerages have commented on LEA. Bank of America raised Lear from an “underperform” rating to a “buy” rating in a report on Wednesday, March 18th. ValuEngine upgraded Lear from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Benchmark assumed coverage on Lear in a research report on Thursday, January 9th. They set a “buy” rating and a $170.00 target price on the stock. KeyCorp decreased their price target on Lear from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Cleveland Research started coverage on Lear in a research report on Friday, February 28th. They issued a “neutral” rating for the company. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $132.00.
Lear (NYSE:LEA) last issued its quarterly earnings results on Tuesday, January 28th. The auto parts company reported $2.64 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.64. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.47 billion. Lear had a return on equity of 19.61% and a net margin of 3.80%. Lear’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $4.05 earnings per share. On average, equities analysts predict that Lear Co. will post 12.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Friday, February 28th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, February 27th. This is an increase from Lear’s previous quarterly dividend of $0.75. Lear’s dividend payout ratio is 22.02%.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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