Bayesian Capital Management LP Has $2.41 Million Position in Lear Co. (NYSE:LEA)

Bayesian Capital Management LP raised its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,427 shares of the auto parts company's stock after buying an additional 7,100 shares during the quarter. Bayesian Capital Management LP's holdings in Lear were worth $2,408,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its stake in Lear by 195.2% in 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 purchasing an additional 71,074 shares in the last quarter. AQR Capital Management LLC grew its stake in 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 purchasing an additional 27,213 shares in the last quarter. Northern Trust Corp raised 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 acquiring an additional 108,756 shares in the last quarter. Oxford Asset Management LLP grew its position in shares of 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 during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Lear by 2.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,717 shares of the auto parts company's stock worth $3,288,000 after buying an additional 933 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Price Performance

Shares of LEA stock traded down $0.45 during trading on Wednesday, hitting $85.73. The company had a trading volume of 653,977 shares, compared to its average volume of 737,661. The stock's 50-day moving average price is $87.29 and its 200 day moving average price is $93.33. Lear Co. has a one year low of $73.85 and a one year high of $133.56. 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 firm has a market capitalization of $4.59 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30.

Lear (NYSE:LEA - Get Free Report) last released its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. Lear had a return on equity of 14.70% and a net margin of 2.17%. Lear's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.18 EPS. Equities analysts expect that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Thursday, March 6th. Lear's dividend payout ratio is presently 34.45%.

Insiders Place Their Bets

In related news, Director Rod Lache bought 2,178 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the purchase, the director now owns 2,178 shares in the company, valued at $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LEA. Cowen lowered Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Barclays downgraded shares of Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Evercore ISI reduced their target price on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on shares of Lear from $147.00 to $143.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, TD Cowen downgraded shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Lear presently has an average rating of "Hold" and an average price target of $114.09.

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.