Lear Co. (LEA) Holdings Decreased by QS Investors LLC
QS Investors LLC lowered its holdings in Lear Co. (NYSE:LEA) by 39.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,169 shares of the auto parts company’s stock after selling 26,350 shares during the period. QS Investors LLC owned approximately 0.06% of Lear worth $4,936,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. increased its position in shares of Lear by 3.3% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 29,853 shares of the auto parts company’s stock valued at $3,668,000 after purchasing an additional 952 shares during the last quarter. Foresters Investment Management Company Inc. grew its position in Lear by 1.6% during the 4th quarter. Foresters Investment Management Company Inc. now owns 46,250 shares of the auto parts company’s stock worth $5,682,000 after acquiring an additional 750 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Lear during the 4th quarter worth approximately $83,677,000. Kohlberg Kravis Roberts & Co. L.P. grew its position in Lear by 56.4% during the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 1,916 shares of the auto parts company’s stock worth $235,000 after acquiring an additional 691 shares during the last quarter. Finally, Natixis Advisors L.P. grew its position in Lear by 211.5% during the 4th quarter. Natixis Advisors L.P. now owns 54,340 shares of the auto parts company’s stock worth $6,676,000 after acquiring an additional 36,898 shares during the last quarter. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
In other Lear news, EVP Terrence B. Larkin sold 18,985 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $155.28, for a total value of $2,947,990.80. Following the completion of the sale, the executive vice president now owns 2,752 shares in the company, valued at approximately $427,330.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Shari L. Burgess sold 3,500 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $156.00, for a total value of $546,000.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.
Lear (NYSE:LEA) last released its quarterly earnings data on Friday, January 25th. The auto parts company reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.09. Lear had a return on equity of 27.12% and a net margin of 5.37%. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the business posted $4.38 EPS. The business’s revenue was down 7.9% on a year-over-year basis. As a group, research analysts expect that Lear Co. will post 17.97 earnings per share for the current year.
Lear announced that its board has authorized a stock repurchase program on Thursday, February 7th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the auto parts company to reacquire up to 15.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be issued a $0.75 dividend. The ex-dividend date is Thursday, February 28th. This represents a $3.00 annualized dividend and a yield of 2.11%. This is a boost from Lear’s previous quarterly dividend of $0.70. Lear’s dividend payout ratio (DPR) is 16.47%.
Several equities analysts recently issued reports on LEA shares. UBS Group upgraded Lear from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. Zacks Investment Research lowered Lear from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Jefferies Financial Group started coverage on Lear in a research report on Tuesday, December 4th. They set a “buy” rating and a $166.00 price target on the stock. ValuEngine lowered Lear from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Finally, Barclays set a $140.00 price target on Lear and gave the stock a “hold” rating in a research report on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $180.57.
COPYRIGHT VIOLATION NOTICE: This article was reported by Daily Political and is owned by of Daily Political. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.dailypolitical.com/2019/03/16/lear-co-lea-holdings-decreased-by-qs-investors-llc.html.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
Recommended Story: What are retained earnings?
Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Co. (NYSE:LEA).
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.