LSV Asset Management Has $90.76 Million Stock Position in Lear Co. (NYSE:LEA)

LSV Asset Management lowered its stake in shares of Lear Co. (NYSE:LEA) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 642,709 shares of the auto parts company’s stock after selling 13,860 shares during the quarter. LSV Asset Management’s holdings in Lear were worth $90,757,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Lear by 13.8% during the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock valued at $174,382,000 after buying an additional 149,958 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Lear in the 4th quarter worth approximately $1,356,000. Louisiana State Employees Retirement System bought a new stake in shares of Lear during the fourth quarter valued at approximately $2,316,000. abrdn plc raised its stake in shares of Lear by 90.1% in the fourth quarter. abrdn plc now owns 22,432 shares of the auto parts company’s stock valued at $3,168,000 after purchasing an additional 10,631 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 91 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Price Performance

NYSE LEA traded up $0.55 during trading hours on Friday, reaching $127.15. 568,998 shares of the company’s stock were exchanged, compared to its average volume of 688,659. The firm has a fifty day moving average of $138.07 and a 200-day moving average of $135.57. Lear Co. has a one year low of $117.79 and a one year high of $157.90. The stock has a market cap of $7.22 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.32 and a beta of 1.55. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55.

Lear (NYSE:LEA) last released its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.14. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.78 earnings per share. On average, equities research analysts predict that Lear Co. will post 14.47 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.42%. Lear’s dividend payout ratio is 33.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LEA shares. Wells Fargo & Company boosted their price target on shares of Lear from $134.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays dropped their price target on shares of Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Morgan Stanley increased their target price on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, UBS Group decreased their price target on Lear from $146.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.33.

Insider Activity

In other Lear news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the transaction, the chief executive officer now directly owns 13,627 shares in the company, valued at $1,810,483.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the sale, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. 0.79% of the stock is owned by company 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.