First Hawaiian Bank raised its position in Lear Co. (NYSE:LEA) by 2.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,814 shares of the auto parts company’s stock after purchasing an additional 134 shares during the period. First Hawaiian Bank’s holdings in Lear were worth $1,235,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. OLD National Bancorp IN acquired a new position in Lear in the fourth quarter valued at $249,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Lear by 149.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,404 shares of the auto parts company’s stock valued at $5,312,000 after purchasing an additional 19,999 shares during the period. Morgan Stanley boosted its position in shares of Lear by 17.1% during the 4th quarter. Morgan Stanley now owns 150,350 shares of the auto parts company’s stock valued at $23,911,000 after purchasing an additional 21,942 shares in the last quarter. Norges Bank acquired a new stake in Lear during the fourth quarter worth approximately $93,832,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Lear by 238.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 10,775 shares of the auto parts company’s stock worth $1,175,000 after purchasing an additional 7,590 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors.
A number of analysts have commented on LEA shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Lear from $150.00 to $165.00 and gave the stock a “hold” rating in a report on Wednesday, January 20th. Barclays raised Lear from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Thursday, December 17th. JPMorgan Chase & Co. raised shares of Lear from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $149.00 to $210.00 in a report on Friday, January 22nd. Wells Fargo & Company assumed coverage on shares of Lear in a research note on Wednesday, March 31st. They issued an “overweight” rating and a $214.00 target price for the company. Finally, Argus raised shares of Lear from a “hold” rating to a “buy” rating in a research report on Wednesday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Lear has a consensus rating of “Buy” and a consensus target price of $167.06.
Lear (NYSE:LEA) last posted its quarterly earnings data on Wednesday, February 3rd. The auto parts company reported $3.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $0.19. Lear had a net margin of 0.50% and a return on equity of 6.17%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business earned $2.64 earnings per share. Lear’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Lear Co. will post 5.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 23rd. Investors of record on Thursday, March 4th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 3rd. This represents a $1.00 annualized dividend and a yield of 0.55%. Lear’s dividend payout ratio (DPR) is presently 7.15%.
In other news, SVP Thomas A. Didonato sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $184.14, for a total value of $3,682,800.00. Following the completion of the transaction, the senior vice president now directly owns 16,214 shares in the company, valued at approximately $2,985,645.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott sold 10,000 shares of the stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $185.22, for a total transaction of $1,852,200.00. Following the transaction, the chief executive officer now directly owns 34,395 shares in the company, valued at approximately $6,370,641.90. The disclosure for this sale can be found here. 0.36% 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 for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, key seat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.
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