Access Investment Management LLC cut its position in shares of Lear Co. (NYSE:LEA - Free Report) by 82.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the auto parts company's stock after selling 24,000 shares during the quarter. Access Investment Management LLC's holdings in Lear were worth $474,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC increased its stake in shares of Lear by 7.3% in the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company's stock valued at $842,054,000 after acquiring an additional 526,763 shares in the last quarter. Pacer Advisors Inc. increased its stake in Lear by 24.3% in the third quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company's stock valued at $137,975,000 after purchasing an additional 247,312 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Lear by 13.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company's stock valued at $187,046,000 after purchasing an additional 206,822 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Lear by 7,452.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 173,855 shares of the auto parts company's stock worth $16,129,000 after purchasing an additional 171,553 shares in the last quarter. Finally, ARGA Investment Management LP boosted its position in shares of Lear by 25.7% during the 4th quarter. ARGA Investment Management LP now owns 595,615 shares of the auto parts company's stock worth $56,405,000 after purchasing an additional 121,734 shares in the last quarter. Institutional investors own 97.04% of the company's stock.
Lear Stock Down 0.8 %
NYSE:LEA traded down $0.80 on Wednesday, hitting $97.19. The stock had a trading volume of 502,075 shares, compared to its average volume of 672,661. Lear Co. has a 1 year low of $86.28 and a 1 year high of $147.11. The firm's fifty day simple moving average is $94.96 and its two-hundred day simple moving average is $101.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. The stock has a market cap of $5.21 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.49 and a beta of 1.42.
Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. Analysts predict that Lear Co. will post 12.89 earnings per share for the current year.
Lear Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Thursday, March 6th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, March 6th. Lear's dividend payout ratio (DPR) is currently 34.45%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Barclays dropped their price target on Lear from $120.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on Lear from $99.00 to $103.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Evercore ISI reduced their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of Lear from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Lear currently has an average rating of "Hold" and a consensus price target of $127.00.
View Our Latest Report on Lear
Lear Company Profile
(
Free Report)
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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