GAMMA Investing LLC Purchases 82,156 Shares of Lear Co. (NYSE:LEA)

GAMMA Investing LLC increased its position in shares of Lear Co. (NYSE:LEA - Free Report) by 13,831.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,750 shares of the auto parts company's stock after purchasing an additional 82,156 shares during the quarter. GAMMA Investing LLC owned 0.15% of Lear worth $7,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its position in Lear by 5.9% during the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company's stock worth $873,000 after purchasing an additional 515 shares during the period. RWC Asset Management LLP lifted its position in Lear by 23.3% during the fourth quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company's stock worth $38,913,000 after purchasing an additional 77,691 shares during the period. New Age Alpha Advisors LLC bought a new stake in Lear during the fourth quarter worth about $3,871,000. Dimensional Fund Advisors LP lifted its position in Lear by 12.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock worth $247,566,000 after purchasing an additional 283,838 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Lear by 17.1% during the fourth quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company's stock worth $64,110,000 after purchasing an additional 99,072 shares during the period. Institutional investors own 97.04% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Lear in a research report on Wednesday, April 23rd. They set a "buy" rating and a $123.00 price objective for the company. Wall Street Zen raised Lear from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Barclays downgraded Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. UBS Group boosted their target price on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lear presently has an average rating of "Hold" and a consensus target price of $112.09.

Lear Stock Performance

Lear stock opened at $88.48 on Monday. The business has a 50 day moving average of $86.01 and a 200-day moving average of $92.23. Lear Co. has a 1 year low of $73.85 and a 1 year high of $126.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. The company has a market capitalization of $4.73 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.49 and a beta of 1.29.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the firm posted $3.18 earnings per share. The firm's revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts predict that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio is presently 36.11%.

Lear Company 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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