RWC Asset Management LLP Boosts Stake in Lear Co. (NYSE:LEA)

RWC Asset Management LLP increased its position in shares of Lear Co. (NYSE:LEA - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 410,908 shares of the auto parts company's stock after buying an additional 77,691 shares during the quarter. Lear comprises about 1.9% of RWC Asset Management LLP's portfolio, making the stock its 12th biggest position. RWC Asset Management LLP owned approximately 0.76% of Lear worth $38,913,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Waterfront Wealth Inc. raised its stake in Lear by 20.2% during the 4th quarter. Waterfront Wealth Inc. now owns 15,059 shares of the auto parts company's stock worth $1,426,000 after buying an additional 2,530 shares during the period. Prakash Investment Advisors LLC acquired a new position in Lear during the 4th quarter worth approximately $379,000. Alberta Investment Management Corp raised its stake in Lear by 40.1% during the 4th quarter. Alberta Investment Management Corp now owns 414,009 shares of the auto parts company's stock worth $39,207,000 after buying an additional 118,560 shares during the period. Paradice Investment Management LLC raised its stake in Lear by 26.4% during the 4th quarter. Paradice Investment Management LLC now owns 293,254 shares of the auto parts company's stock worth $27,771,000 after buying an additional 61,169 shares during the period. Finally, GAM Holding AG bought a new stake in Lear during the 4th quarter worth approximately $1,651,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on LEA. JPMorgan Chase & Co. decreased their price objective on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Barclays decreased their price objective on Lear from $120.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price objective 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 decreased their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a report on Monday, February 10th. Finally, StockNews.com raised Lear from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $127.00.

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Lear Price Performance

NYSE:LEA traded down $0.77 during trading hours on Thursday, hitting $96.43. 401,624 shares of the company's stock traded hands, compared to its average volume of 665,527. The firm has a market cap of $5.17 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.49 and a beta of 1.42. Lear Co. has a 52 week low of $86.28 and a 52 week high of $147.11. The business's fifty day simple moving average is $95.05 and its two-hundred day simple moving average is $101.19. 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 (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) 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, research analysts anticipate that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, March 6th. Lear's dividend payout ratio (DPR) is presently 34.45%.

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.