Geode Capital Management LLC Trims Stock Position in Lear Co. (NYSE:LEA)

Geode Capital Management LLC trimmed its position in Lear Co. (NYSE:LEA - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,109,086 shares of the auto parts company's stock after selling 32,390 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Lear worth $105,057,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 187 shares during the last quarter. Addison Advisors LLC increased its position in shares of Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. raised its holdings in Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after buying an additional 287 shares during the period. Brooklyn Investment Group lifted its position in Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock valued at $40,000 after buying an additional 120 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Lear during the third quarter worth about $50,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insider Activity at Lear

In other news, Director Rod Lache acquired 2,178 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $91.80 per share, with a total value of $199,940.40. Following the completion of the acquisition, the director now owns 2,178 shares of the company's stock, valued at $199,940.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.

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Lear Stock Down 1.6 %

NYSE:LEA traded down $1.24 during trading hours on Tuesday, hitting $77.36. The company's stock had a trading volume of 73,867 shares, compared to its average volume of 741,033. The stock has a market capitalization of $4.14 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.49 and a beta of 1.34. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $91.79 and a 200-day moving average of $95.91. Lear Co. has a 52-week low of $73.85 and a 52-week 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, topping 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, equities analysts forecast 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 was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were given a $0.77 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 3.98%. Lear's dividend payout ratio (DPR) is presently 34.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI decreased their price objective on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Morgan Stanley decreased their target price on Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $84.00 target price (down from $117.00) on shares of Lear in a research report on Thursday, April 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $114.27.

About Lear

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.