Arrowstreet Capital Limited Partnership Acquires 25,217 Shares of Lear Co. (NYSE:LEA)

Arrowstreet Capital Limited Partnership grew its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 138.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,474 shares of the auto parts company's stock after buying an additional 25,217 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.08% of Lear worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its stake in Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock valued at $40,000 after purchasing an additional 120 shares during the last quarter. Lakewood Asset Management LLC boosted its stake in shares of Lear by 1.3% during the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company's stock worth $943,000 after acquiring an additional 126 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after acquiring an additional 137 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Lear by 4.2% during the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock worth $385,000 after purchasing an additional 143 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 187 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LEA. Cowen downgraded Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Morgan Stanley reduced their price target on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. UBS Group reduced their target price on Lear from $102.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Wells Fargo & Company upped their price target on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Lear has an average rating of "Hold" and an average target price of $117.00.

Lear Stock Up 0.1 %

Shares of LEA traded up $0.05 during mid-day trading on Monday, hitting $77.42. 25,055 shares of the company's stock were exchanged, compared to its average volume of 740,527. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 0.49 and a beta of 1.34. The firm has a fifty day moving average of $92.09 and a two-hundred day moving average of $96.15. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. Lear Co. has a twelve month low of $73.85 and a twelve month high of $138.69.

Lear (NYSE:LEA - Get Free Report) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, sell-side analysts forecast that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 3.98%. Lear's payout ratio is presently 34.45%.

Insider Buying and Selling

In related news, Director Rod Lache bought 2,178 shares of Lear stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the purchase, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company's stock.

Lear Company Profile

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.