BlueCrest Capital Management Ltd Takes $2.80 Million Position in Lear Co. (LEA)

BlueCrest Capital Management Ltd purchased a new stake in Lear Co. (NYSE:LEA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,856 shares of the auto parts company’s stock, valued at approximately $2,801,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Lear in the fourth quarter valued at $126,000. Tower Research Capital LLC TRC increased its holdings in shares of Lear by 69.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the auto parts company’s stock valued at $178,000 after buying an additional 413 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Lear in the fourth quarter valued at $183,000. Focused Wealth Management Inc bought a new position in shares of Lear in the fourth quarter valued at $186,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Lear in the fourth quarter valued at $204,000. 95.77% of the stock is currently owned by institutional investors.

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Several research firms have issued reports on LEA. Goldman Sachs raised Lear from a “sell” rating to a “neutral” rating and set a $187.00 price target on the stock in a report on Tuesday, January 30th. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $207.00 price target on the stock in a report on Thursday. ValuEngine raised Lear from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Barclays reissued a “hold” rating and set a $200.00 target price on shares of Lear in a research note on Sunday, January 21st. Finally, Susquehanna Bancshares set a $188.00 target price on shares of Lear and gave the company a “hold” rating in a research note on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $194.72.

In other news, VP Shari L. Burgess sold 5,373 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $190.14, for a total transaction of $1,021,622.22. Following the transaction, the vice president now directly owns 4,232 shares in the company, valued at approximately $804,672.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mel Stephens sold 17,006 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $193.00, for a total transaction of $3,282,158.00. Following the transaction, the senior vice president now owns 15,694 shares in the company, valued at $3,028,942. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,115 shares of company stock worth $49,699,331. 0.49% of the stock is currently owned by corporate insiders.

Shares of Lear stock traded down $4.44 on Monday, hitting $181.65. 517,356 shares of the company traded hands, compared to its average volume of 638,252. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 0.45. Lear Co. has a 12-month low of $132.01 and a 12-month high of $202.42. The stock has a market cap of $12,453.17, a P/E ratio of 10.69 and a beta of 1.45.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, January 26th. The auto parts company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.25 by $0.13. Lear had a net margin of 6.42% and a return on equity of 30.32%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the previous year, the company posted $3.80 EPS. Lear’s revenue was up 15.5% on a year-over-year basis. equities research analysts expect that Lear Co. will post 18.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Wednesday, March 7th were issued a dividend of $0.70 per share. This is a boost from Lear’s previous quarterly dividend of $0.50. This represents a $2.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, March 6th. Lear’s payout ratio is currently 16.47%.

Lear announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to repurchase $954.00 million in shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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Lear Company Profile

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.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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