Invesco Ltd. Purchases 130,018 Shares of Lear Co. (NYSE:LEA)

Invesco Ltd. increased its holdings in Lear Co. (NYSE:LEA - Free Report) by 57.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,154 shares of the auto parts company's stock after buying an additional 130,018 shares during the quarter. Invesco Ltd. owned about 0.66% of Lear worth $33,728,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LEA. Wellington Management Group LLP increased its stake in Lear by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock valued at $385,000 after buying an additional 143 shares during the period. MML Investors Services LLC increased its stake in shares of Lear by 49.9% during the third quarter. MML Investors Services LLC now owns 3,207 shares of the auto parts company's stock valued at $350,000 after acquiring an additional 1,068 shares during the period. Barclays PLC lifted its position in Lear by 9.8% in the third quarter. Barclays PLC now owns 135,049 shares of the auto parts company's stock worth $14,742,000 after purchasing an additional 12,094 shares during the period. Sanctuary Advisors LLC boosted its stake in Lear by 10.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,052 shares of the auto parts company's stock valued at $224,000 after purchasing an additional 202 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Lear during the 3rd quarter valued at $50,000. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Up 2.9 %

Shares of NYSE:LEA traded up $2.34 during midday trading on Wednesday, hitting $83.19. 62,741 shares of the stock were exchanged, compared to its average volume of 745,599. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear Co. has a 52-week low of $73.85 and a 52-week high of $138.69. The business's fifty day simple moving average is $89.74 and its two-hundred day simple moving average is $94.79. The company has a market capitalization of $4.45 billion, a PE ratio of 9.31, a P/E/G ratio of 0.49 and a beta of 1.34.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS 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%. As a group, research analysts predict that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.70%. Lear's dividend payout ratio is currently 34.45%.

Insider Activity at Lear

In related news, Director Rod Lache bought 2,178 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares of the company's stock, valued at $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cowen lowered Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Evercore ISI cut their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Citigroup assumed coverage on shares of Lear in a research note on Wednesday. They set a "buy" rating and a $123.00 target price for the company. Finally, UBS Group cut their price target on shares of Lear from $102.00 to $83.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $113.91.

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.