Pinebridge Investments L.P. Has $2.31 Million Stock Position in Lear Co. (NYSE:LEA)

Pinebridge Investments L.P. grew its holdings in Lear Co. (NYSE:LEA - Free Report) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,369 shares of the auto parts company's stock after purchasing an additional 7,288 shares during the period. Pinebridge Investments L.P.'s holdings in Lear were worth $2,308,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LEA. Nisa Investment Advisors LLC increased its stake in Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock valued at $27,000 after buying an additional 187 shares during the last quarter. Addison Advisors LLC increased its position in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 137 shares during the last quarter. UMB Bank n.a. raised its holdings in Lear by 233.3% during the fourth quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock worth $39,000 after acquiring an additional 287 shares in the last quarter. Brooklyn Investment Group boosted its position in Lear by 39.1% during the fourth 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, Quadrant Capital Group LLC grew its stake in Lear by 51.1% in the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Insiders Place Their Bets

In related news, Director Rod Lache bought 2,178 shares of the business's 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 transaction, the director now owns 2,178 shares in the company, valued at $199,940.40. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company's stock.

Lear Price Performance

Shares of NYSE LEA opened at $84.57 on Friday. The firm has a market cap of $4.53 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.49 and a beta of 1.34. The business's 50 day moving average is $88.95 and its 200-day moving average is $94.34. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear Co. has a 1-year low of $73.85 and a 1-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 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%. Equities research analysts predict that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 6th. Lear's dividend payout ratio is currently 34.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Lear from $99.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Barclays cut shares of Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. UBS Group lowered their price objective on shares of Lear from $102.00 to $83.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Citigroup assumed coverage on shares of Lear in a report on Wednesday. They issued a "buy" rating and a $123.00 target price on the stock. Finally, Cowen downgraded Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.

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