Perennial Advisors LLC Acquires Shares of 31,700 Lear Co. (NYSE:LEA)

Perennial Advisors LLC purchased a new position in Lear Co. (NYSE:LEA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,700 shares of the auto parts company's stock, valued at approximately $3,002,000. Perennial Advisors LLC owned about 0.06% of Lear as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LEA. Nisa Investment Advisors LLC increased its position in Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock worth $27,000 after purchasing an additional 187 shares during the last quarter. Addison Advisors LLC boosted its position in Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after buying an additional 137 shares during the period. UMB Bank n.a. lifted its position in shares of Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock worth $39,000 after purchasing an additional 287 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Lear by 51.1% in the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after purchasing an additional 166 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Lear by 247.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock worth $75,000 after purchasing an additional 561 shares during the period. Institutional investors own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Lear from $89.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley reduced their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, TD Cowen lowered shares of 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $112.09.

Lear Stock Performance

Shares of LEA stock traded down $2.06 during trading hours on Wednesday, hitting $90.04. The company's stock had a trading volume of 705,706 shares, compared to its average volume of 739,102. The company has a 50 day moving average of $86.51 and a 200 day moving average of $92.63. The stock has a market cap of $4.81 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear Co. has a 12-month low of $73.85 and a 12-month high of $127.58.

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

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 36.11%.

Insider Activity

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

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.