Toronto Dominion Bank increased its holdings in Lear Co. (NYSE:LEA – Get Rating) by 30.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,066 shares of the auto parts company’s stock after buying an additional 2,572 shares during the period. Toronto Dominion Bank’s holdings in Lear were worth $2,025,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Pzena Investment Management LLC boosted its holdings in Lear by 7.5% in the 3rd quarter. Pzena Investment Management LLC now owns 5,186,846 shares of the auto parts company’s stock valued at $811,638,000 after purchasing an additional 362,076 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Lear by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,168,057 shares of the auto parts company’s stock valued at $339,257,000 after purchasing an additional 121,246 shares during the period. Boston Partners boosted its holdings in Lear by 11.9% in the 3rd quarter. Boston Partners now owns 2,027,270 shares of the auto parts company’s stock valued at $317,369,000 after purchasing an additional 215,191 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Lear in the 4th quarter valued at $343,246,000. Finally, Franklin Resources Inc. boosted its holdings in Lear by 10.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,562,561 shares of the auto parts company’s stock valued at $244,509,000 after purchasing an additional 153,231 shares during the period. 97.98% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on LEA. The Goldman Sachs Group dropped their price objective on shares of Lear from $189.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, March 22nd. Morgan Stanley dropped their price objective on shares of Lear from $175.00 to $160.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. Barclays dropped their price objective on shares of Lear from $161.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, April 7th. Bank of America raised shares of Lear from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $195.00 in a report on Wednesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lear from $197.00 to $157.00 and set a “hold” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lear currently has a consensus rating of “Hold” and an average target price of $174.33.
Lear (NYSE:LEA – Get Rating) last released its quarterly earnings data on Tuesday, February 8th. The auto parts company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.15. Lear had a net margin of 1.94% and a return on equity of 9.99%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the company earned $3.66 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities analysts predict that Lear Co. will post 9.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 11th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 10th. Lear’s payout ratio is 49.92%.
About Lear (Get Rating)
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.
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