Hardy Reed LLC Invests $1.06 Million in Lear Corporation (NYSE:LEA)

Hardy Reed LLC purchased a new position in Lear Corporation (NYSE:LEA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,000 shares of the auto parts company's stock, valued at approximately $1,059,000.

Several other institutional investors have also added to or reduced their stakes in LEA. Raymond James Financial Inc. bought a new position in Lear in the fourth quarter worth approximately $2,984,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lear by 10.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,992 shares of the auto parts company's stock worth $1,325,000 after acquiring an additional 1,291 shares during the period. 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. Commonwealth Equity Services LLC raised its position in Lear by 31.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,601 shares of the auto parts company's stock worth $436,000 after acquiring an additional 1,089 shares during the period. Finally, Natixis Advisors LLC raised its position in Lear by 57.4% in the fourth quarter. Natixis Advisors LLC now owns 72,394 shares of the auto parts company's stock worth $6,856,000 after acquiring an additional 26,396 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEA has been the subject of a number of analyst reports. Wall Street Zen raised shares of Lear from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Barclays increased their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday. The Goldman Sachs Group set a $88.00 price objective on shares of Lear and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup increased their price objective on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $116.00 target price (up from $95.00) on shares of Lear in a research note on Monday. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $113.64.

Lear Price Performance

Shares of NYSE:LEA traded down $1.85 on Friday, reaching $104.01. The company's stock had a trading volume of 493,779 shares, compared to its average volume of 710,044. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $126.85. The company has a market cap of $5.56 billion, a P/E ratio of 12.19, a PEG ratio of 0.58 and a beta of 1.29. The company has a 50-day simple moving average of $95.27 and a 200 day simple moving average of $92.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 EPS 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 business had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the company posted $3.18 EPS. The business's revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were paid 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 2.96%. Lear's payout ratio is currently 36.11%.

Insider Activity at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm'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 completion of the sale, the director owned 84 shares in the company, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is owned by insiders.

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.