Balyasny Asset Management L.P. Makes New $17.68 Million Investment in Lear Co. (NYSE:LEA)

Balyasny Asset Management L.P. bought a new stake in shares of Lear Co. (NYSE:LEA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 186,661 shares of the auto parts company's stock, valued at approximately $17,677,000. Balyasny Asset Management L.P. owned 0.34% of Lear as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP grew its stake in shares of Lear by 38.7% in the fourth quarter. Bayesian Capital Management LP now owns 25,427 shares of the auto parts company's stock worth $2,408,000 after acquiring an additional 7,100 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Lear by 195.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 107,480 shares of the auto parts company's stock valued at $10,178,000 after buying an additional 71,074 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Lear by 38.9% in the fourth quarter. AQR Capital Management LLC now owns 97,239 shares of the auto parts company's stock valued at $9,209,000 after buying an additional 27,213 shares during the period. Northern Trust Corp grew its position in Lear by 27.8% during the fourth quarter. Northern Trust Corp now owns 500,508 shares of the auto parts company's stock worth $47,398,000 after buying an additional 108,756 shares in the last quarter. Finally, Oxford Asset Management LLP raised its holdings in Lear by 37.4% in the 4th quarter. Oxford Asset Management LLP now owns 3,941 shares of the auto parts company's stock valued at $373,000 after acquiring an additional 1,072 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Trading Up 1.8 %

Shares of Lear stock traded up $1.64 during trading on Friday, reaching $90.57. 463,871 shares of the company were exchanged, compared to its average volume of 738,367. The business has a 50-day moving average price of $87.26 and a 200-day moving average price of $93.03. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.49 and a beta of 1.30. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. Lear Co. has a twelve month low of $73.85 and a twelve month high of $133.56.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.64 by $0.48. Lear had a return on equity of 14.70% and a net margin of 2.17%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the business posted $3.18 EPS. The firm's revenue was down 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, March 6th. Lear's dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

LEA has been the subject of a number of recent research reports. UBS Group upped their target price on Lear from $83.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. TD Cowen lowered Lear from a "buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research note on Friday, March 7th. Citigroup started coverage on Lear in a report on Wednesday, April 23rd. They set a "buy" rating and a $123.00 price objective for the company. StockNews.com lowered shares of Lear from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lear presently has an average rating of "Hold" and an average target price of $112.00.

Insider Transactions at Lear

In other news, Director Rod Lache bought 2,178 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the purchase, the director now owns 2,178 shares of the company's stock, valued at approximately $199,940.40. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by 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.