Grimes & Company Inc. Boosts Holdings in Lear Co. (NYSE:LEA)

Grimes & Company Inc. boosted its position in shares of Lear Co. (NYSE:LEA - Free Report) by 68.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,917 shares of the auto parts company's stock after buying an additional 32,019 shares during the quarter. Grimes & Company Inc. owned 0.15% of Lear worth $6,962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LEA. Allspring Global Investments Holdings LLC boosted its stake in Lear by 7,452.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 173,855 shares of the auto parts company's stock worth $16,129,000 after buying an additional 171,553 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Lear by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 44,823 shares of the auto parts company's stock valued at $4,245,000 after purchasing an additional 874 shares during the period. Principal Securities Inc. boosted its stake in shares of Lear by 19.5% during the fourth quarter. Principal Securities Inc. now owns 3,146 shares of the auto parts company's stock valued at $298,000 after purchasing an additional 513 shares during the period. Financiere des Professionnels Fonds d investissement inc. boosted its stake in shares of Lear by 44.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 38,232 shares of the auto parts company's stock valued at $3,621,000 after purchasing an additional 11,744 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Lear by 33.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,584 shares of the auto parts company's stock valued at $2,139,000 after purchasing an additional 5,656 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LEA. Wells Fargo & Company boosted their target price on shares of Lear from $89.00 to $100.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Barclays lowered shares of Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. Morgan Stanley decreased their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, UBS Group lifted their price objective on Lear from $83.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, May 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.09.

Lear Stock Performance

Shares of Lear stock opened at $92.54 on Tuesday. The company has a market capitalization of $4.95 billion, a PE ratio of 10.35, a P/E/G ratio of 0.49 and a beta of 1.29. 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 company has a 50-day simple moving average of $87.52 and a two-hundred day simple moving average of $92.01. Lear Co. has a one year low of $73.85 and a one year high of $126.85.

Lear (NYSE:LEA - Get Free Report) last posted 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 net margin of 2.17% and a return on equity of 14.70%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the company posted $3.18 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts expect that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a $0.77 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. Lear's dividend payout ratio is currently 36.11%.

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.

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