Neo Ivy Capital Management Buys 22,254 Shares of Lear Co. (NYSE:LEA)

Neo Ivy Capital Management boosted its position in Lear Co. (NYSE:LEA - Free Report) by 128.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,528 shares of the auto parts company's stock after acquiring an additional 22,254 shares during the quarter. Lear accounts for 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 23rd biggest position. Neo Ivy Capital Management owned 0.07% of Lear worth $3,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its stake in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock worth $32,000 after acquiring an additional 137 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Lear by 51.1% in the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock worth $46,000 after buying an additional 166 shares in the last quarter. Wellington Management Group LLP grew its holdings in Lear by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company's stock worth $351,000 after buying an additional 183 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Lear by 187.0% in 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. Finally, Sanctuary Advisors LLC lifted its position in shares of Lear by 12.1% during the 4th quarter. Sanctuary Advisors LLC now owns 2,301 shares of the auto parts company's stock valued at $223,000 after acquiring an additional 249 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Evercore ISI cut their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Barclays lowered shares of Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. UBS Group lifted their target price on shares of Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Cowen cut shares of Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Lear presently has an average rating of "Hold" and an average price target of $112.09.

Insider Activity at Lear

In other news, Director Rod Lache acquired 2,178 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares in the company, valued at $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is owned by insiders.

Lear Stock Performance

LEA traded up $2.91 on Tuesday, reaching $92.07. The company had a trading volume of 648,681 shares, compared to its average volume of 722,658. Lear Co. has a fifty-two week low of $73.85 and a fifty-two week high of $127.58. The stock has a market cap of $4.92 billion, a P/E ratio of 10.30, a P/E/G ratio of 0.49 and a beta of 1.30. The company's fifty day moving average is $86.58 and its 200 day moving average is $92.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32.

Lear (NYSE:LEA - Get Free Report) last issued 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. Lear had a net margin of 2.17% and a return on equity of 14.70%. 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 EPS. The firm's quarterly revenue was down 7.2% on a year-over-year basis. As a group, analysts predict that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's payout ratio is 36.11%.

Lear 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.