Schroder Investment Management Group Makes New $90.70 Million Investment in Lear Co. (NYSE:LEA)

Schroder Investment Management Group purchased a new stake in shares of Lear Co. (NYSE:LEA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 966,543 shares of the auto parts company’s stock, valued at approximately $90,700,000. Schroder Investment Management Group owned 1.78% of Lear as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group raised its position in Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 120 shares in the last quarter. Lakewood Asset Management LLC raised its holdings in shares of Lear by 1.3% in the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock worth $943,000 after purchasing an additional 126 shares in the last quarter. Quarry LP lifted its stake in Lear by 13.8% during the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 134 shares during the last quarter. Addison Advisors LLC boosted its holdings in Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after buying an additional 137 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 worth $385,000 after buying an additional 143 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Buying and Selling

In other news, Director Rod Lache bought 2,178 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $91.80 per share, with a total value of $199,940.40. Following the transaction, the director now directly owns 2,178 shares in the company, valued at approximately $199,940.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Lear Trading Down 1.7 %

Shares of NYSE LEA opened at $87.82 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.49 and a beta of 1.44. Lear Co. has a 52 week low of $86.28 and a 52 week high of $145.35. The business has a 50 day simple moving average of $95.39 and a 200 day simple moving average of $98.27.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 6th. Lear’s payout ratio is 34.45%.

Analysts Set New Price Targets

Several research firms have recently weighed in on LEA. TD Cowen lowered Lear from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their price objective on Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Morgan Stanley decreased their target price on shares of Lear from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company boosted their price target on shares of Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Evercore ISI lowered their price objective on shares of Lear from $125.00 to $110.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Lear currently has a consensus rating of “Hold” and an average price target of $123.36.

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.