Lear Co. (NYSE:LEA) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in Lear Co. (NYSE:LEA - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,324 shares of the auto parts company's stock after acquiring an additional 9,290 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.21% of Lear worth $10,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEA. Altshuler Shaham Ltd acquired a new position in shares of Lear during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock worth $35,000 after acquiring an additional 214 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Lear during the third quarter worth approximately $34,000. Finally, Signaturefd LLC raised its stake in Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock valued at $36,000 after purchasing an additional 139 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Trading Up 0.0 %

NYSE:LEA traded up $0.04 during trading hours on Friday, reaching $94.22. 649,191 shares of the stock were exchanged, compared to its average volume of 656,204. Lear Co. has a twelve month low of $90.03 and a twelve month high of $147.11. The business has a 50-day moving average of $96.12 and a two-hundred day moving average of $105.24. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.47 and a beta of 1.43. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.32. The company had revenue of $5.58 billion during the quarter, compared to analysts' expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. Lear's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the business posted $2.87 EPS. On average, equities analysts predict that Lear Co. will post 12.01 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 11th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.27%. The ex-dividend date was Wednesday, December 11th. Lear's payout ratio is currently 32.39%.

Analysts Set New Price Targets

Several analysts recently issued reports on LEA shares. TD Cowen dropped their price objective on shares of Lear from $142.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Morgan Stanley dropped their price target on Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Lear from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Monday, December 16th. StockNews.com upgraded Lear from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Finally, Barclays cut shares of Lear from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $134.18.

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.