SG Americas Securities LLC Purchases 26,270 Shares of Lear Corporation $LEA

SG Americas Securities LLC grew its position in Lear Corporation (NYSE:LEA) by 1,256.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,360 shares of the auto parts company’s stock after acquiring an additional 26,270 shares during the period. SG Americas Securities LLC owned 0.05% of Lear worth $2,853,000 at the end of the most recent reporting period.

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

Lear Stock Performance

Shares of Lear stock opened at $124.09 on Tuesday. The firm has a fifty day moving average of $112.07 and a two-hundred day moving average of $106.24. 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 stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.15 and a beta of 1.30. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $127.36.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.89 earnings per share. As a group, equities research analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.5%. Lear’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LEA shares. Barclays boosted their target price on shares of Lear from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. TD Cowen boosted their price objective on shares of Lear from $115.00 to $117.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Wall Street Zen lowered Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup lifted their target price on Lear from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $112.00 price target (down previously from $115.00) on shares of Lear in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lear has an average rating of “Hold” and an average price target of $121.40.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total transaction of $590,850.00. Following the transaction, the chief financial officer owned 15,244 shares of the company’s stock, valued at $1,801,383.48. This trade represents a 24.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is owned by corporate 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.