ARGA Investment Management LP Acquires 57,705 Shares of Lear Corporation (NYSE:LEA)

ARGA Investment Management LP grew its position in shares of Lear Corporation (NYSE:LEA - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 653,320 shares of the auto parts company's stock after buying an additional 57,705 shares during the quarter. Lear accounts for 1.9% of ARGA Investment Management LP's portfolio, making the stock its 16th largest position. ARGA Investment Management LP owned about 1.22% of Lear worth $57,636,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its holdings in shares of Lear by 51.1% during the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock valued at $46,000 after buying an additional 166 shares during the last quarter. Putney Financial Group LLC purchased a new stake in Lear in the fourth quarter worth approximately $58,000. Fifth Third Bancorp raised its position in Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock worth $67,000 after acquiring an additional 435 shares during the period. CX Institutional bought a new position in Lear in the first quarter worth approximately $71,000. Finally, EverSource Wealth Advisors LLC raised its position in Lear by 247.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock worth $75,000 after acquiring an additional 561 shares during the period. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insider Buying and Selling at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the sale, the director directly owned 84 shares in the company, valued at $7,800.24. The trade was a 93.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.

Lear Stock Performance

Shares of NYSE LEA opened at $102.78 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32. The company has a market cap of $5.49 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.58 and a beta of 1.29. The firm's fifty day moving average is $92.10 and its two-hundred day moving average is $91.74. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $126.85.

Lear (NYSE:LEA - Get Free Report) last posted its 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 net margin of 2.09% and a return on equity of 14.53%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the firm posted $3.18 EPS. The business's quarterly revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.00%. Lear's dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

Several analysts have recently commented on LEA shares. Wells Fargo & Company raised their price objective on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. UBS Group raised their price objective on shares of Lear from $83.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Bank of America raised their price objective on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group set a $88.00 price objective on shares of Lear and gave the company a "neutral" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lear presently has a consensus rating of "Hold" and an average target price of $108.55.

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.

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