Lear Co. (LEA) Holdings Decreased by LSV Asset Management
LSV Asset Management lessened its holdings in shares of Lear Co. (NYSE:LEA) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,398,979 shares of the auto parts company’s stock after selling 27,900 shares during the quarter. LSV Asset Management owned approximately 3.74% of Lear worth $294,738,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Daiwa SB Investments Ltd. lifted its stake in shares of Lear by 7.8% during the 4th quarter. Daiwa SB Investments Ltd. now owns 1,250 shares of the auto parts company’s stock worth $154,000 after purchasing an additional 90 shares during the period. Lenox Wealth Management Inc. lifted its stake in shares of Lear by 4.4% during the 4th quarter. Lenox Wealth Management Inc. now owns 4,327 shares of the auto parts company’s stock worth $532,000 after purchasing an additional 182 shares during the period. IMS Capital Management purchased a new position in shares of Lear during the 3rd quarter worth $38,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Lear during the 4th quarter worth $32,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Lear by 18.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,091 shares of the auto parts company’s stock worth $257,000 after purchasing an additional 331 shares during the period. 96.53% of the stock is currently owned by institutional investors.
Shares of LEA opened at $148.28 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.13 and a current ratio of 1.40. The firm has a market capitalization of $9.25 billion, a P/E ratio of 8.14, a PEG ratio of 3.31 and a beta of 1.40. Lear Co. has a twelve month low of $114.45 and a twelve month high of $206.36.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be given a $0.75 dividend. The ex-dividend date is Thursday, February 28th. This is a positive change from Lear’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.02%. Lear’s dividend payout ratio (DPR) is 15.37%.
In other Lear news, Director Richard Harold Bott sold 789 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $135.13, for a total value of $106,617.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.43% of the company’s stock.
A number of brokerages have weighed in on LEA. Zacks Investment Research lowered Lear from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley set a $185.00 target price on Lear and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $182.00 target price (up from $163.00) on shares of Lear in a research report on Monday, January 28th. Robert W. Baird increased their target price on Lear from $140.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, January 28th. They noted that the move was a valuation call. Finally, KeyCorp increased their target price on Lear from $178.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, January 28th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $182.29.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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