SG Americas Securities LLC Has $2.85 Million Stock Position in Lear Corporation $LEA

SG Americas Securities LLC increased its holdings in shares of Lear Corporation (NYSE:LEA) by 1,256.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,360 shares of the auto parts company’s stock after buying an additional 26,270 shares during the quarter. SG Americas Securities LLC’s holdings in Lear were worth $2,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its holdings in shares of Lear by 75.6% in the second quarter. Schroder Investment Management Group now owns 1,801,284 shares of the auto parts company’s stock worth $171,086,000 after acquiring an additional 775,476 shares in the last quarter. American Century Companies Inc. grew its position in shares of Lear by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock valued at $120,577,000 after purchasing an additional 558,538 shares during the period. Norges Bank bought a new stake in Lear during the 2nd quarter worth approximately $48,468,000. Balyasny Asset Management L.P. acquired a new stake in Lear during the 2nd quarter worth approximately $39,656,000. Finally, Boston Partners bought a new position in Lear in the second quarter valued at approximately $26,069,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEA has been the subject of several research reports. Wall Street Zen downgraded shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Barclays increased their target price on Lear from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. TD Cowen boosted their price target on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group set a $104.00 target price on Lear in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and a consensus target price of $121.40.

Lear Trading Down 0.3%

Shares of NYSE:LEA opened at $124.09 on Tuesday. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $127.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35. The company has a market capitalization of $6.44 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The company has a 50-day simple moving average of $112.07 and a 200 day simple moving average of $106.24.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. Lear had a return on equity of 13.44% and a net margin of 1.92%.The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period last year, the firm posted $2.89 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $3.08 annualized dividend and a yield of 2.5%. Lear’s dividend payout ratio (DPR) is currently 37.65%.

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total value of $590,850.00. Following the transaction, the chief financial officer directly owned 15,244 shares in the company, valued at $1,801,383.48. The trade was a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.91% of the stock is currently owned by company insiders.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.