Lear Corporation $LEA Stock: Leuthold Group LLC Decreases Holdings

Leuthold Group LLC lowered its stake in shares of Lear Corporation (NYSE:LEA) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,149 shares of the auto parts company’s stock after selling 8,715 shares during the quarter. Leuthold Group LLC owned about 0.08% of Lear worth $4,385,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd lifted its position in Lear by 36.5% during the 1st quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 81 shares during the period. Putney Financial Group LLC purchased a new position in shares of Lear in the 3rd quarter valued at approximately $37,000. Provenance Wealth Advisors LLC increased its holdings in shares of Lear by 5,166.7% in the third quarter. Provenance Wealth Advisors LLC now owns 474 shares of the auto parts company’s stock valued at $56,000 after purchasing an additional 465 shares during the period. Root Financial Partners LLC acquired a new position in shares of Lear in the third quarter valued at approximately $58,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lear during the third quarter worth approximately $63,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Performance

NYSE LEA opened at $111.08 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $121.10 and its two-hundred day moving average is $128.15. Lear Corporation has a 12-month low of $99.00 and a 12-month high of $150.33. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.67 and a beta of 1.28.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, October 30th. The auto parts company reported $3.71 EPS for the quarter, beating the consensus estimate of $3.32 by $0.39. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Lear had a return on equity of 14.92% and a net margin of 2.46%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.79 EPS. Research analysts expect that Lear Corporation will post 15.15 EPS for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were given a $0.77 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $3.08 annualized dividend and a yield of 2.8%. Lear’s dividend payout ratio is presently 26.90%.

Lear declared that its Board of Directors has initiated a share buyback plan on Thursday, September 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 25.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LEA. BNP Paribas Exane downgraded Lear from an “outperform” rating to a “neutral” rating in a report on Monday, August 3rd. Royal Bank Of Canada dropped their price objective on shares of Lear from $139.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Monday, November 2nd. The Goldman Sachs Group cut their price objective on shares of Lear from $140.00 to $124.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Wells Fargo & Company raised their target price on shares of Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings cut shares of Lear from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $143.25.

Insider Transactions at Lear

In other Lear news, CFO Jason Cardew sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $117.75, for a total value of $588,750.00. Following the completion of the sale, the chief financial officer owned 8,241 shares of the company’s stock, valued at approximately $970,377.75. This trade represents a 37.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Lear Profile

Lear Corporation is a global automotive technology supplier that designs and manufactures products for vehicle seating and electrical systems. Its customers include automakers around the world, and its products are used in a range of vehicle types.

The company’s seating business provides complete seating systems and components, including seat structures, mechanisms, foam and trim. Its E-Systems business develops electrical distribution systems, connectivity solutions and electronic components that help manage power and data within vehicles.

Lear traces its origins to 1917, when it was established as American Metal Products.