Mackenzie Financial Corp boosted its position in shares of Lear Corporation (NYSE:LEA) by 62.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 223,021 shares of the auto parts company’s stock after acquiring an additional 85,968 shares during the period. Mackenzie Financial Corp owned 0.33% of Lear worth $38,600,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEA. Strs Ohio raised its position in shares of Lear by 1.7% during the second quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock valued at $698,000 after buying an additional 80 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Lear by 3.3% during the second quarter. Janney Montgomery Scott LLC now owns 9,667 shares of the auto parts company’s stock valued at $1,373,000 after buying an additional 313 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Lear by 27.3% during the second quarter. Bessemer Group Inc. now owns 2,506 shares of the auto parts company’s stock valued at $356,000 after buying an additional 538 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new stake in shares of Lear during the second quarter valued at approximately $276,000. Finally, HL Financial Services LLC raised its position in shares of Lear by 1.9% during the second quarter. HL Financial Services LLC now owns 3,571 shares of the auto parts company’s stock valued at $507,000 after buying an additional 67 shares during the last quarter. Institutional investors own 91.81% of the company’s stock.
Lear Corporation (LEA) traded up $0.80 during mid-day trading on Wednesday, hitting $177.80. 391,300 shares of the company were exchanged, compared to its average volume of 662,308. Lear Corporation has a 1 year low of $131.03 and a 1 year high of $181.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34. The stock has a market capitalization of $11,958.25, a price-to-earnings ratio of 10.78, a PEG ratio of 1.47 and a beta of 1.43.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, December 7th. Lear’s dividend payout ratio (DPR) is presently 12.47%.
LEA has been the topic of several recent analyst reports. BidaskClub upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Robert W. Baird reiterated a “buy” rating and set a $178.00 price objective on shares of Lear in a research report on Friday, September 1st. KeyCorp reiterated a “buy” rating and set a $180.00 price objective on shares of Lear in a research report on Sunday, September 17th. Cowen initiated coverage on shares of Lear in a research report on Monday, September 25th. They set an “outperform” rating and a $195.00 price objective on the stock. Finally, Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $173.13.
In other Lear news, Director Henry D. G. Wallace sold 4,139 shares of Lear stock in a transaction on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the transaction, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mel Stephens sold 796 shares of Lear stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total transaction of $142,484.00. Following the transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $7,160,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,337 shares of company stock valued at $1,946,256. 0.49% of the stock is currently owned by insiders.
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Lear Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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