Robeco Institutional Asset Management B.V. raised its stake in Lear Corp. (NYSE:LEA) by 33.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 235,095 shares of the company’s stock after buying an additional 59,400 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.33% of Lear Corp. worth $28,496,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock valued at $103,000 after buying an additional 529 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Lear Corp. by 65.9% in the third quarter. Global X Management Co. LLC now owns 934 shares of the company’s stock valued at $113,000 after buying an additional 371 shares during the last quarter. Societe Generale acquired a new stake in shares of Lear Corp. during the second quarter valued at approximately $121,000. Finally, Financial Architects Inc boosted its stake in shares of Lear Corp. by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the company’s stock valued at $123,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 97.85% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) opened at 129.62 on Monday. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $130.59. The stock’s 50 day moving average price is $120.83 and its 200-day moving average price is $115.73. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 9.85 and a beta of 1.29.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.23. Lear Corp. had a return on equity of 31.86% and a net margin of 5.26%. The company earned $4.50 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the previous year, the firm earned $2.56 EPS. Lear Corp.’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Lear Corp. will post $13.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.93%. Lear Corp.’s dividend payout ratio (DPR) is currently 9.12%.
Several brokerages have recently commented on LEA. Goldman Sachs Group Inc. cut Lear Corp. from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $116.00 to $107.00 in a report on Thursday, October 6th. Zacks Investment Research upgraded Lear Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, October 13th. Royal Bank Of Canada cut Lear Corp. from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $120.00 to $121.00 in a report on Friday, October 14th. RBC Capital Markets reiterated a “sector perform” rating and issued a $127.00 price target (up previously from $121.00) on shares of Lear Corp. in a report on Thursday, October 27th. Finally, Citigroup Inc. raised their price target on Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Lear Corp. currently has an average rating of “Hold” and a consensus target price of $126.75.
In other news, Director Jonathan F. Foster sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the transaction, the director now owns 4,025 shares of the company’s stock, valued at approximately $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.
About Lear Corp.