Lear Co. (NYSE:LEA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Lear Co. (NYSE:LEA - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,143 shares of the auto parts company's stock after acquiring an additional 5,922 shares during the period. Victory Capital Management Inc.'s holdings in Lear were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Lear by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 495,764 shares of the auto parts company's stock worth $46,949,000 after purchasing an additional 27,901 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Lear by 9.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,221 shares of the auto parts company's stock valued at $305,000 after buying an additional 282 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Lear by 14,322.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,298 shares of the auto parts company's stock worth $123,000 after buying an additional 1,289 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Lear by 11.9% in the fourth quarter. QRG Capital Management Inc. now owns 7,507 shares of the auto parts company's stock worth $711,000 after acquiring an additional 796 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Lear by 67.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 33,103 shares of the auto parts company's stock valued at $3,135,000 after acquiring an additional 13,281 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cowen downgraded shares of Lear from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group lowered their price target on shares of Lear from $104.00 to $102.00 and set a "neutral" rating for the company in a report on Friday, February 7th. TD Cowen downgraded shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Finally, Evercore ISI cut their price target on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $123.36.

Lear Trading Down 0.2 %

Shares of LEA stock traded down $0.19 on Thursday, reaching $95.78. 633,974 shares of the stock were exchanged, compared to its average volume of 690,879. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $5.14 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The firm has a 50 day moving average of $95.29 and a two-hundred day moving average of $99.20. Lear Co. has a 1-year low of $86.28 and a 1-year high of $147.11.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, research analysts anticipate that Lear Co. will post 12.89 EPS for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 3.22%. Lear's dividend payout ratio (DPR) is 34.45%.

Insiders Place Their Bets

In related news, Director Rod Lache acquired 2,178 shares of Lear stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

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.