Roof Advisory Group Inc. lifted its position in shares of Lear Co. (NYSE:LEA) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,729 shares of the auto parts company’s stock after buying an additional 917 shares during the quarter. Lear comprises about 2.0% of Roof Advisory Group Inc.’s holdings, making the stock its 16th largest position. Roof Advisory Group Inc.’s holdings in Lear were worth $4,044,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Martingale Asset Management L P lifted its stake in shares of Lear by 47.2% in the fourth quarter. Martingale Asset Management L P now owns 120,614 shares of the auto parts company’s stock valued at $21,309,000 after buying an additional 38,700 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Lear by 37.4% during the fourth quarter. Toronto Dominion Bank now owns 4,008 shares of the auto parts company’s stock valued at $709,000 after purchasing an additional 1,092 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Lear by 218.1% during the fourth quarter. State of Alaska Department of Revenue now owns 8,474 shares of the auto parts company’s stock valued at $1,495,000 after purchasing an additional 5,810 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Lear by 163.5% during the fourth quarter. Franklin Resources Inc. now owns 12,104 shares of the auto parts company’s stock valued at $2,139,000 after purchasing an additional 7,511 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of Lear during the fourth quarter valued at about $740,000. Institutional investors own 90.08% of the company’s stock.
Shares of NYSE LEA traded down $0.40 during mid-day trading on Wednesday, hitting $201.50. The stock had a trading volume of 1,006,151 shares, compared to its average volume of 604,911. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.43. Lear Co. has a 1 year low of $135.62 and a 1 year high of $206.36. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 11.85 and a beta of 1.46.
Lear (NYSE:LEA) last issued its earnings results on Thursday, April 26th. The auto parts company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.91 by $0.19. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.43 billion. Lear had a net margin of 6.40% and a return on equity of 29.40%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.27 earnings per share. equities research analysts anticipate that Lear Co. will post 19.2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Friday, June 8th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, June 7th. Lear’s payout ratio is currently 16.47%.
Lear declared that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to repurchase $954.00 million in outstanding shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
LEA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine downgraded shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 21st. Barclays reduced their target price on shares of Lear from $200.00 to $199.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 17th. Morgan Stanley upgraded shares of Lear from an “underweight” rating to an “equal weight” rating and set a $191.00 target price for the company in a research note on Thursday, March 22nd. Finally, Susquehanna Bancshares set a $188.00 target price on shares of Lear and gave the stock a “hold” rating in a research note on Wednesday, March 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Lear has a consensus rating of “Buy” and an average price target of $198.33.
In related news, Director Richard Harold Bott sold 1,063 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $202.35, for a total value of $215,098.05. Following the transaction, the director now owns 1,852 shares in the company, valued at approximately $374,752.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan F. Foster sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $203.24, for a total transaction of $508,100.00. Following the completion of the transaction, the director now owns 7,381 shares in the company, valued at approximately $1,500,114.44. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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