Mirabella Financial Services LLP Buys 10,091 Shares of Lear Corporation $LEA

Mirabella Financial Services LLP lifted its stake in shares of Lear Corporation (NYSE:LEA) by 102.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,895 shares of the auto parts company’s stock after purchasing an additional 10,091 shares during the quarter. Mirabella Financial Services LLP’s holdings in Lear were worth $1,998,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. WealthCollab LLC bought a new stake in Lear during the second quarter worth about $28,000. Quent Capital LLC bought a new position in Lear in the 3rd quarter valued at about $38,000. Farther Finance Advisors LLC increased its holdings in Lear by 34.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock valued at $42,000 after buying an additional 107 shares during the period. Rothschild Investment LLC acquired a new position in shares of Lear in the 3rd quarter valued at approximately $48,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Lear by 130.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 470 shares of the auto parts company’s stock worth $48,000 after acquiring an additional 266 shares during the period. Institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Lear in a research report on Thursday, March 12th. They set a “sector perform” rating and a $135.00 price target on the stock. TD Cowen upped their target price on Lear from $117.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Morgan Stanley raised their target price on Lear from $112.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Argus upgraded Lear to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Wall Street Zen raised Lear from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Lear currently has a consensus rating of “Hold” and an average price target of $138.00.

Insider Transactions at Lear

In other Lear news, SVP Alicia J. Davis sold 6,630 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $132.98, for a total value of $881,657.40. Following the completion of the transaction, the senior vice president directly owned 9,972 shares in the company, valued at approximately $1,326,076.56. This trade represents a 39.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Harry Albert Kemp sold 7,000 shares of Lear stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $136.31, for a total value of $954,170.00. Following the sale, the senior vice president directly owned 17,423 shares in the company, valued at $2,374,929.13. The trade was a 28.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,264 shares of company stock worth $3,991,537. Insiders own 0.91% of the company’s stock.

Lear Trading Up 1.7%

Shares of Lear stock opened at $116.14 on Tuesday. The firm’s 50 day moving average is $126.38 and its 200 day moving average is $113.95. The firm has a market capitalization of $5.89 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.82 and a beta of 1.26. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $142.84. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 EPS for the quarter, beating the consensus estimate of $2.67 by $0.74. Lear had a net margin of 1.88% and a return on equity of 13.40%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter in the prior year, the firm earned $2.94 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 5th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, March 5th. Lear’s dividend payout ratio is presently 37.79%.

Lear Company Profile

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.