Pzena Investment Management LLC Trims Stock Holdings in Lear Co. (NYSE:LEA)

Pzena Investment Management LLC cut its stake in Lear Co. (NYSE:LEA - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,679,092 shares of the auto parts company's stock after selling 35,561 shares during the period. Lear comprises about 2.5% of Pzena Investment Management LLC's investment portfolio, making the stock its 17th largest position. Pzena Investment Management LLC owned 14.13% of Lear worth $727,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock worth $27,000 after purchasing an additional 187 shares during the last quarter. Brooklyn Investment Group bought a new position in Lear during the 3rd quarter worth about $34,000. Addison Advisors LLC grew its holdings in Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. grew its holdings in Lear by 233.3% during the 4th 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. Finally, Wilmington Savings Fund Society FSB bought a new position in Lear during the 3rd quarter worth about $50,000. 97.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lear news, Director Rod Lache bought 2,178 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $91.80 per share, with a total value of $199,940.40. Following the purchase, the director now directly owns 2,178 shares in the company, valued at $199,940.40. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

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Lear Stock Performance

LEA traded down $3.04 during trading on Tuesday, reaching $96.32. 647,229 shares of the company's stock were exchanged, compared to its average volume of 715,105. Lear Co. has a 1 year low of $86.28 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. The stock has a market capitalization of $5.17 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company's fifty day simple moving average is $95.12 and its 200-day simple moving average is $99.97.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping analysts' consensus estimates 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 fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 3.20%. Lear's dividend payout ratio (DPR) is presently 34.45%.

Analyst Ratings Changes

Several brokerages have issued reports on LEA. TD Cowen cut shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 target price on the stock. in a report on Friday. Barclays dropped their target price on shares of Lear from $120.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of Lear from $99.00 to $103.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Finally, 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 research report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $123.36.

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.