State of Alaska Department of Revenue Grows Stock Position in Lear Co. (NYSE:LEA)

State of Alaska Department of Revenue boosted its stake in Lear Co. (NYSE:LEA - Free Report) by 147.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,198 shares of the auto parts company's stock after buying an additional 9,665 shares during the period. State of Alaska Department of Revenue's holdings in Lear were worth $1,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its position in 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. grew its position in 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 acquiring an additional 22,601 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Lear by 13.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company's stock valued at $187,046,000 after acquiring an additional 206,822 shares in the last quarter. Pacer Advisors Inc. grew its position in Lear by 24.3% in the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company's stock valued at $137,975,000 after acquiring an additional 247,312 shares in the last quarter. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 44,128 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Lear Stock Up 0.2 %

LEA traded up $0.15 on Friday, reaching $96.47. The company's stock had a trading volume of 502,617 shares, compared to its average volume of 680,171. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. Lear Co. has a fifty-two week low of $86.28 and a fifty-two week high of $147.11. The stock has a 50 day moving average of $95.25 and a two-hundred day moving average of $101.92. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 0.62 and a beta of 1.42.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating 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 forecast that Lear Co. will post 13.29 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.19%. Lear's dividend payout ratio is currently 34.45%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen dropped their target price on Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Morgan Stanley lowered their price objective on Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Barclays lowered their price objective on Lear from $120.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Evercore ISI lowered their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research report on Monday, February 10th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $127.00.

About Lear

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.