GenTrust LLC Takes Position in Lear Corporation $LEA

GenTrust LLC bought a new position in shares of Lear Corporation (NYSE:LEA) in the third quarter, Holdings Channel.com reports. The institutional investor bought 9,286 shares of the auto parts company’s stock, valued at approximately $934,000.

A number of other large investors have also recently bought and sold shares of the company. Schroder Investment Management Group raised its position 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 worth $171,086,000 after buying an additional 775,476 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Lear by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock valued at $120,577,000 after acquiring an additional 558,538 shares during the last quarter. Norges Bank acquired a new stake in shares of Lear in the second quarter worth $48,468,000. Balyasny Asset Management L.P. purchased a new position in shares of Lear during the second quarter worth $39,656,000. Finally, Boston Partners acquired a new position in Lear during the second quarter valued at $26,069,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LEA shares. Evercore increased their price target on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 target price on shares of Lear in a report on Thursday, January 15th. TD Cowen boosted their price target on Lear from $117.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lear presently has a consensus rating of “Hold” and an average price target of $135.10.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $118.17, for a total value of $590,850.00. Following the transaction, the chief financial officer directly owned 15,244 shares of the company’s stock, valued at approximately $1,801,383.48. This trade represents a 24.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by company insiders.

Lear Stock Up 0.6%

Shares of LEA opened at $137.59 on Friday. The firm has a market cap of $7.14 billion, a P/E ratio of 16.88, a PEG ratio of 1.08 and a beta of 1.30. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $142.84. The stock’s 50 day moving average is $121.51 and its two-hundred day moving average is $110.05. 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 announced its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.74. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.94 EPS. Analysts predict that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.2%. Lear’s payout ratio is currently 37.79%.

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.