Principal Financial Group Inc. trimmed its holdings in shares of Lear Co. (NYSE:LEA - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,609 shares of the auto parts company's stock after selling 5,617 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Lear worth $11,800,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of LEA. Pzena Investment Management LLC raised its stake in shares of Lear by 7.3% in the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company's stock valued at $842,054,000 after acquiring an additional 526,763 shares in the last quarter. Greenhaven Associates Inc. raised its position in shares of Lear by 1.2% in the fourth 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 during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Lear by 13.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company's stock worth $187,046,000 after buying an additional 206,822 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Lear by 24.3% during the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company's stock worth $137,975,000 after buying an additional 247,312 shares during the period. Finally, Geode Capital Management LLC grew its stake in 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 buying an additional 44,128 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
LEA has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Monday. Barclays decreased their target price on Lear from $120.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Evercore ISI dropped their target price on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Lear from a "hold" rating to a "buy" rating in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Lear currently has a consensus rating of "Hold" and a consensus price target of $126.09.
Read Our Latest Stock Report on LEA
Lear Price Performance
Shares of Lear stock traded down $2.26 during trading on Monday, hitting $91.73. 464,302 shares of the company's stock traded hands, compared to its average volume of 665,429. The company has a market cap of $4.92 billion, a PE ratio of 10.24, a PEG ratio of 0.49 and a beta of 1.42. 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 Co. has a twelve month low of $86.28 and a twelve month high of $147.11. The firm's fifty day moving average price is $95.10 and its 200 day moving average price is $100.92.
Lear (NYSE:LEA - Get Free Report) last issued its earnings results 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%. Analysts forecast that Lear Co. will post 12.89 earnings per share for the current year.
Lear Announces Dividend
The company 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.08 annualized dividend and a dividend yield of 3.36%. Lear's dividend payout ratio is presently 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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