DekaBank Deutsche Girozentrale Has $6.25 Million Stock Position in Lear Corporation $LEA

DekaBank Deutsche Girozentrale lifted its holdings in shares of Lear Corporation (NYSE:LEA) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,098 shares of the auto parts company’s stock after acquiring an additional 2,337 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.12% of Lear worth $6,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in Lear by 1,384.2% in the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after buying an additional 263 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Lear during the 1st quarter worth $39,000. GAMMA Investing LLC increased its holdings in Lear by 57.9% in the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 344 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Lear by 2,682.9% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock worth $93,000 after purchasing an additional 939 shares in the last quarter. Finally, Bayforest Capital Ltd grew its position in shares of Lear by 955.2% in the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock valued at $98,000 after buying an additional 1,003 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares of the company’s stock, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief executive officer directly owned 38,729 shares in the company, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

Lear Price Performance

NYSE LEA opened at $101.98 on Friday. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $113.10. The business’s fifty day moving average price is $104.26 and its 200-day moving average price is $96.85. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%.The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, equities analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, September 3rd. Lear’s dividend payout ratio is currently 35.94%.

Analyst Upgrades and Downgrades

LEA has been the topic of several research analyst reports. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. UBS Group dropped their target price on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. The Goldman Sachs Group set a $104.00 price target on Lear in a research report on Monday, September 29th. Citigroup restated a “neutral” rating on shares of Lear in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Lear currently has an average rating of “Hold” and an average target price of $115.00.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.