Neo Ivy Capital Management Has $3.74 Million Position in Lear Co. (NYSE:LEA)

Neo Ivy Capital Management raised its holdings in shares of Lear Co. (NYSE:LEA - Free Report) by 128.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,528 shares of the auto parts company's stock after acquiring an additional 22,254 shares during the period. Lear makes up 0.8% of Neo Ivy Capital Management's holdings, making the stock its 23rd largest position. Neo Ivy Capital Management owned approximately 0.07% of Lear worth $3,743,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in shares of Lear during the 4th quarter valued at $90,700,000. Massachusetts Financial Services Co. MA grew its holdings in Lear by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock worth $209,531,000 after acquiring an additional 498,918 shares during the period. Vanguard Group Inc. raised its position in Lear by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after acquiring an additional 447,835 shares in the last quarter. First Trust Advisors LP lifted its holdings in Lear by 45.9% in the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock valued at $107,313,000 after acquiring an additional 356,760 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Lear during the 4th quarter valued at about $31,881,000. Institutional investors and hedge funds own 97.04% of the company's stock.

Insider Transactions at Lear

In related news, Director Rod Lache acquired 2,178 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $91.80 per share, with a total value of $199,940.40. Following the purchase, the director now owns 2,178 shares of the company's stock, valued at approximately $199,940.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LEA shares. Cowen downgraded shares of Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Evercore ISI reduced their price objective on Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Citigroup initiated coverage on Lear in a research report on Wednesday, April 23rd. They set a "buy" rating and a $123.00 target price on the stock. UBS Group increased their price target on Lear from $83.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $88.00 price target on Lear and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Lear presently has a consensus rating of "Hold" and a consensus price target of $112.09.

Lear Stock Down 1.2%

Shares of NYSE LEA traded down $1.08 during mid-day trading on Wednesday, reaching $91.02. The company had a trading volume of 187,213 shares, compared to its average volume of 736,292. The stock has a market capitalization of $4.87 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. Lear Co. has a twelve month low of $73.85 and a twelve month high of $127.58. 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 stock's 50 day moving average is $86.51 and its 200-day moving average is $92.63.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly 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. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. Lear had a return on equity of 14.70% and a net margin of 2.17%. The business's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $3.18 EPS. As a group, equities analysts anticipate that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm 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 $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, June 5th. Lear's dividend payout ratio is 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.