Summit X LLC Takes $823,000 Position in Lear Co. (NYSE:LEA)

Summit X LLC acquired a new position in Lear Co. (NYSE:LEA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,686 shares of the auto parts company's stock, valued at approximately $823,000.

A number of other institutional investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Lear by 10.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,992 shares of the auto parts company's stock worth $1,325,000 after purchasing an additional 1,291 shares in the last quarter. Kendall Capital Management raised its position in Lear by 28.9% during the fourth quarter. Kendall Capital Management now owns 9,505 shares of the auto parts company's stock worth $900,000 after acquiring an additional 2,129 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Lear during the fourth quarter worth $4,386,000. Freestone Capital Holdings LLC bought a new stake in Lear during the fourth quarter worth $373,000. Finally, Inceptionr LLC bought a new position in shares of Lear in the fourth quarter valued at about $715,000. Institutional investors own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

LEA has been the topic of several research analyst reports. TD Cowen lowered shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research report on Friday, March 7th. Cowen lowered shares of Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company increased their price objective on shares of Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Morgan Stanley dropped their price objective on shares of Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of Lear from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $123.36.

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Insider Activity

In other Lear news, Director Rod Lache acquired 2,178 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired 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 $199,940.40. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Lear Trading Down 3.1 %

Shares of Lear stock opened at $96.32 on Wednesday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.49 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. Lear Co. has a 12-month low of $86.28 and a 12-month high of $147.11. The firm's 50-day moving average price is $95.12 and its two-hundred day moving average price is $99.97.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.17% and a return on equity of 14.70%. On average, analysts forecast that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.20%. Lear's payout ratio is currently 34.45%.

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.

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