Norges Bank Makes New $31.88 Million Investment in Lear Co. (NYSE:LEA)

Norges Bank purchased a new stake in Lear Co. (NYSE:LEA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 336,655 shares of the auto parts company's stock, valued at approximately $31,881,000. Norges Bank owned about 0.62% of Lear at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Lear by 187.0% during the 4th 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. 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 valued at $32,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. increased its position in shares of Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock valued at $39,000 after purchasing an additional 287 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Lear by 39.1% during the 4th 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. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Lear during the 3rd quarter valued at $50,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

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Lear Stock Down 7.8 %

LEA traded down $6.49 during trading on Thursday, reaching $76.38. The stock had a trading volume of 97,341 shares, compared to its average volume of 760,424. The stock's 50 day moving average is $92.70 and its two-hundred day moving average is $96.69. 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 company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.49 and a beta of 1.34. Lear Co. has a one year low of $73.85 and a one year high of $138.69.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.03%. Lear's payout ratio is presently 34.45%.

Insider Activity

In related news, Director Rod Lache purchased 2,178 shares of Lear stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the acquisition, the director now directly 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LEA shares. 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. Morgan Stanley decreased their price objective on Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group restated a "neutral" rating and issued a $84.00 target price (down previously from $117.00) on shares of Lear in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, StockNews.com raised Lear from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $118.73.

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.