Optimize Financial Inc bought a new stake in shares of Lear Co. (NYSE:LEA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,786 shares of the auto parts company's stock, valued at approximately $453,000.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Lear by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after buying an additional 447,835 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lear by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock worth $209,531,000 after purchasing an additional 498,918 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of Lear by 1.2% in the 4th quarter. Greenhaven Associates Inc. now owns 1,842,247 shares of the auto parts company's stock valued at $174,461,000 after purchasing an additional 22,601 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lear by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company's stock valued at $124,621,000 after purchasing an additional 44,128 shares during the last quarter. Finally, Lyrical Asset Management LP raised its holdings in shares of Lear by 2.9% during the 4th quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company's stock worth $100,069,000 after buying an additional 29,370 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. StockNews.com raised shares of Lear from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Wells Fargo & Company upped their target price on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $84.00 target price (down from $117.00) on shares of Lear in a report on Thursday, April 10th. Finally, Barclays cut their price target on Lear from $115.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $114.27.
Get Our Latest Report on Lear
Insider Activity
In other Lear news, Director Rod Lache purchased 2,178 shares of Lear stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the acquisition, the director now directly owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.79% of the company's stock.
Lear Price Performance
NYSE LEA traded down $0.30 on Tuesday, reaching $78.30. 656,741 shares of the company's stock traded hands, compared to its average volume of 743,576. Lear Co. has a 12 month low of $73.85 and a 12 month high of $138.69. The stock has a market cap of $4.19 billion, a PE ratio of 8.76, a P/E/G ratio of 0.49 and a beta of 1.34. The stock has a 50-day simple moving average of $91.47 and a 200 day simple moving average of $95.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02.
Lear (NYSE:LEA - Get Free Report) last posted its quarterly 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 net margin of 2.17% and a return on equity of 14.70%. As a group, research analysts predict 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. Shareholders of record on Thursday, March 6th were paid 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 3.93%. Lear's dividend payout ratio (DPR) is currently 34.45%.
About Lear
(
Free Report)
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.
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