Kovitz Investment Group Partners LLC acquired a new position in shares of Lear Co. (NYSE:LEA – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,495 shares of the auto parts company’s stock, valued at approximately $238,000.
Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Lear by 96.9% during the 3rd quarter. Van ECK Associates Corp now owns 191 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 94 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in shares of Lear during the 3rd quarter worth about $35,000. National Bank of Canada FI acquired a new stake in shares of Lear in the 4th quarter valued at about $35,000. Desjardins Global Asset Management Inc. acquired a new stake in shares of Lear in the 4th quarter valued at about $36,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Lear by 66.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 262 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 105 shares during the period. 97.98% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Lear from $189.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, March 22nd. Bank of America raised Lear from an “underperform” rating to a “buy” rating and upped their target price for the company from $150.00 to $195.00 in a research report on Wednesday, April 6th. BNP Paribas assumed coverage on Lear in a research report on Monday, April 11th. They issued an “underperform” rating and a $112.00 target price for the company. Barclays decreased their target price on Lear from $161.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Finally, StockNews.com started coverage on Lear in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.44.
Lear (NYSE:LEA – Get Rating) last issued its earnings results on Tuesday, February 8th. The auto parts company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.15. Lear had a return on equity of 9.99% and a net margin of 1.94%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business posted $3.66 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, analysts predict that Lear Co. will post 9.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Friday, March 11th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, March 10th. Lear’s payout ratio is currently 49.92%.
About Lear (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Lear (LEA)
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