Nordea Investment Management AB Boosts Stake in Lear Co. (NYSE:LEA)

Nordea Investment Management AB increased its position in shares of Lear Co. (NYSE:LEA - Free Report) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,465 shares of the auto parts company's stock after acquiring an additional 5,711 shares during the period. Nordea Investment Management AB owned approximately 0.07% of Lear worth $3,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Quarry LP lifted its holdings in shares of Lear by 13.8% during the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company's stock worth $121,000 after acquiring an additional 134 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock worth $36,000 after acquiring an additional 139 shares during the last quarter. Wellington Management Group LLP increased its stake in Lear by 4.2% in the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock valued at $385,000 after acquiring an additional 143 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in Lear by 1.0% in the second quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company's stock valued at $1,866,000 after acquiring an additional 155 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Trading Down 2.0 %

Shares of NYSE LEA traded down $1.88 during trading hours on Friday, hitting $90.93. The company's stock had a trading volume of 523,925 shares, compared to its average volume of 572,571. Lear Co. has a 12 month low of $90.42 and a 12 month high of $147.11. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 0.58 and a beta of 1.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The business has a 50-day simple moving average of $96.40 and a 200-day simple moving average of $106.02.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.87 EPS. On average, analysts anticipate that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.39%. Lear's dividend payout ratio (DPR) is presently 32.39%.

Analyst Upgrades and Downgrades

LEA has been the subject of a number of research reports. TD Cowen cut their price objective on Lear from $142.00 to $125.00 and set a "buy" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on Lear from $162.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Barclays downgraded shares of Lear from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $140.00 to $120.00 in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their target price on shares of Lear from $106.00 to $99.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. Finally, Bank of America cut their price target on shares of Lear from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $134.18.

Lear 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.