Private Advisor Group LLC Takes $2.43 Million Position in Lear Corporation (NYSE:LEA)

Private Advisor Group LLC acquired a new stake in Lear Corporation (NYSE:LEA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,558 shares of the auto parts company's stock, valued at approximately $2,431,000. Private Advisor Group LLC owned 0.05% of Lear at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its stake in Lear by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock worth $599,000 after buying an additional 152 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Lear by 51.1% during the 4th 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 in the last quarter. Wellington Management Group LLP grew its stake 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 valued at $351,000 after acquiring an additional 183 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Lear by 7.6% in the 1st quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock valued at $317,000 after purchasing an additional 255 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in shares of Lear by 3.6% during the first quarter. Impax Asset Management Group plc now owns 8,159 shares of the auto parts company's stock worth $720,000 after purchasing an additional 280 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LEA. Citigroup increased their target price on Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Bank of America boosted their price target on Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Morgan Stanley cut their target price on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. raised their price target on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, UBS Group restated a "neutral" rating and set a $116.00 price objective (up previously from $95.00) on shares of Lear in a report on Monday, July 14th. 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 MarketBeat, Lear has an average rating of "Hold" and a consensus target price of $113.64.

Lear Trading Down 8.1%

LEA stock traded down $8.77 during midday trading on Friday, reaching $99.37. The stock had a trading volume of 1,670,335 shares, compared to its average volume of 648,202. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $125.09. The business has a fifty day simple moving average of $96.63 and a two-hundred day simple moving average of $92.90. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.56 and a beta of 1.29.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.24. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.89 billion. Lear had a net margin of 2.09% and a return on equity of 14.53%. The firm's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 EPS. As a group, research analysts expect 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. Stockholders of record on Thursday, June 5th were given 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 3.10%. Lear's payout ratio is 36.11%.

Insider Activity at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of Lear stock in a transaction on Monday, June 16th. The stock was sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the sale, the director owned 84 shares of the company's stock, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.91% of the company's stock.

Lear Company 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.