Millennium Management LLC Boosts Stock Position in Lear Co. (NYSE:LEA)

Millennium Management LLC lifted its position in shares of Lear Co. (NYSE:LEA - Free Report) by 394.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,273 shares of the auto parts company's stock after purchasing an additional 194,893 shares during the period. Millennium Management LLC owned 0.45% of Lear worth $23,133,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LEA. Nisa Investment Advisors LLC boosted its holdings in shares of Lear by 187.0% during 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 period. Addison Advisors LLC boosted its holdings in shares of Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after purchasing an additional 137 shares during the period. UMB Bank n.a. boosted its holdings in shares of Lear by 233.3% during the fourth 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 boosted 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 worth $46,000 after purchasing an additional 166 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 247.1% during the fourth 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. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lear

In related news, Director Rod Lache bought 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 acquisition, the director now owns 2,178 shares of the company's stock, valued at $199,940.40. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by insiders.

Lear Price Performance

Shares of LEA opened at $93.87 on Wednesday. The company has a market capitalization of $5.02 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $87.04 and a 200 day moving average of $92.85. Lear Co. has a twelve month low of $73.85 and a twelve month high of $128.33.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion during 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 firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.18 earnings per share. As a group, equities research analysts anticipate that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 36.11%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of Lear from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Barclays lowered shares of Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Cowen lowered shares of Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Wells Fargo & Company raised their price objective on shares of Lear from $89.00 to $100.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, UBS Group raised their price objective on shares of Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.09.

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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