Eagle Global Advisors LLC Sells 22,016 Shares of Lear Co. (NYSE:LEA)

Eagle Global Advisors LLC lessened its position in shares of Lear Co. (NYSE:LEA - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,731 shares of the auto parts company's stock after selling 22,016 shares during the period. Eagle Global Advisors LLC owned approximately 0.12% of Lear worth $6,414,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in Lear in the 4th quarter worth about $90,700,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lear by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock valued at $209,531,000 after purchasing an additional 498,918 shares in the last quarter. Vanguard Group Inc. grew its position in Lear by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock valued at $614,782,000 after acquiring an additional 447,835 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Lear by 45.9% during the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock valued at $107,313,000 after purchasing an additional 356,760 shares during the last quarter. Finally, Norges Bank acquired a new position in Lear during the 4th quarter worth approximately $31,881,000. Institutional investors own 97.04% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LEA shares. StockNews.com cut shares of Lear from a "buy" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley dropped their target price on Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Evercore ISI lowered their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Wells Fargo & Company raised their price objective on Lear from $87.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.00.

Lear Stock Up 1.8 %

NYSE:LEA traded up $1.64 during trading hours on Friday, reaching $90.57. The company had a trading volume of 463,871 shares, compared to its average volume of 738,367. The business's 50-day simple moving average is $87.26 and its two-hundred day simple moving average is $93.03. Lear Co. has a twelve month low of $73.85 and a twelve month high of $133.56. The firm has a market cap 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 (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business earned $3.18 EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

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

Insider Activity at Lear

In other news, Director Rod Lache acquired 2,178 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $199,940.40. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.