Teacher Retirement System of Texas Has $3.33 Million Stake in Lear Co. (NYSE:LEA)

Teacher Retirement System of Texas increased its position in shares of Lear Co. (NYSE:LEA - Free Report) by 114.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,120 shares of the auto parts company's stock after purchasing an additional 18,715 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Lear worth $3,326,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LEA. Brooklyn Investment Group raised its position in Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock worth $40,000 after purchasing an additional 120 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in Lear by 1.3% during the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company's stock valued at $943,000 after purchasing an additional 126 shares in the last quarter. Quarry LP grew its stake in shares of Lear by 13.8% in the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company's stock valued at $121,000 after purchasing an additional 134 shares during the period. Addison Advisors LLC raised its holdings in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after buying an additional 137 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Lear by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock worth $385,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

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Insider Activity at Lear

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 shares were acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the purchase, the director now owns 2,178 shares of the company's stock, valued at $199,940.40. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LEA shares. Evercore ISI dropped their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. StockNews.com raised shares of Lear from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. TD Cowen cut shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research note on Friday, March 7th. Finally, UBS Group decreased their price target on Lear from $104.00 to $102.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $123.36.

Lear Trading Down 1.7 %

Shares of LEA traded down $1.49 on Friday, reaching $87.82. 835,014 shares of the company's stock were exchanged, compared to its average volume of 728,327. Lear Co. has a 12 month low of $86.28 and a 12 month high of $145.35. The stock has a market capitalization of $4.71 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $95.39 and a two-hundred day moving average price of $98.36.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results 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%. Research analysts anticipate that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. Lear's dividend payout ratio (DPR) is presently 34.45%.

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.