Pegasus Partners Ltd. trimmed its position in Lear Co. (NYSE:LEA) by 28.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,965 shares of the auto parts company’s stock after selling 3,608 shares during the quarter. Pegasus Partners Ltd.’s holdings in Lear were worth $1,101,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LEA. FMR LLC increased its stake in Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after acquiring an additional 302,664 shares during the last quarter. Cerebellum GP LLC bought a new position in Lear in the third quarter valued at approximately $184,000. Daiwa SB Investments Ltd. increased its stake in Lear by 2,220.0% in the third quarter. Daiwa SB Investments Ltd. now owns 1,160 shares of the auto parts company’s stock valued at $168,000 after acquiring an additional 1,110 shares during the last quarter. Lourd Capital LLC bought a new position in Lear in the third quarter valued at approximately $281,000. Finally, Polianta Ltd bought a new position in Lear in the third quarter valued at approximately $1,058,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LEA. UBS Group raised shares of Lear from a “neutral” rating to a “buy” rating in a research note on Friday, January 4th. Buckingham Research raised shares of Lear from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Citigroup decreased their target price on shares of Lear from $234.00 to $214.00 and set a “buy” rating on the stock in a research note on Friday, October 12th. Morgan Stanley decreased their target price on shares of Lear from $214.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Finally, KeyCorp began coverage on shares of Lear in a research note on Monday, December 10th. They set an “overweight” rating and a $178.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $181.87.
Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, January 25th. The auto parts company reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.09. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.99 billion. Lear had a net margin of 5.37% and a return on equity of 26.95%. Lear’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.38 earnings per share. As a group, sell-side analysts predict that Lear Co. will post 17.91 earnings per share for the current year.
In other news, Director Richard Harold Bott sold 789 shares of Lear stock in a transaction on Friday, November 16th. The shares were sold at an average price of $135.13, for a total transaction of $106,617.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.43% of the stock is currently owned by insiders.
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Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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