By otakuyassine3@gmail.com 
Arrowstreet Capital Limited Partnership grew its holdings in Lear Co. (NYSE:LEA – Free Report) by 138.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,474 shares of the auto parts company’s stock after buying an additional 25,217 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lear were worth $4,117,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its position in shares of Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after buying an additional 120 shares during the last quarter. Lakewood Asset Management LLC raised its position in shares of Lear by 1.3% during the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after buying an additional 126 shares during the period. Addison Advisors LLC lifted its stake 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 valued at $32,000 after purchasing an additional 137 shares during the last quarter. Wellington Management Group LLP lifted its position in Lear by 4.2% in the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after buying an additional 143 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 187 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LEA has been the topic of several research reports. UBS Group decreased their target price on Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI lowered 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. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered 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. Nine 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 stock presently has an average rating of “Hold” and a consensus price target of $123.36.
Check Out Our Latest Analysis on LEA
Lear Stock Performance
Shares of LEA stock opened at $75.03 on Wednesday. The stock has a 50 day simple moving average of $93.21 and a 200-day simple moving average of $96.97. Lear Co. has a 12-month low of $74.27 and a 12-month high of $144.11. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 0.49 and a beta of 1.34. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59.
Lear (NYSE:LEA – Get Free Report) last issued its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, equities analysts forecast that Lear Co. will post 12.89 EPS for the current year.
Lear Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 4.11%. Lear’s dividend payout ratio (DPR) is currently 34.45%.
Insider Transactions at Lear
In other news, Director Rod Lache bought 2,178 shares of Lear stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the acquisition, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
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.
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