Public Employees Retirement System of Ohio Has $2.62 Million Stock Position in Lear Co. (NYSE:LEA)

Public Employees Retirement System of Ohio lifted its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,622 shares of the auto parts company's stock after buying an additional 2,874 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Lear worth $2,616,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Lear by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after purchasing an additional 447,835 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock worth $247,566,000 after buying an additional 283,838 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Lear by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock worth $209,531,000 after buying an additional 498,918 shares during the last quarter. First Trust Advisors LP grew its stake in Lear by 45.9% during the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock worth $107,313,000 after buying an additional 356,760 shares during the last quarter. Finally, Lyrical Asset Management LP grew its stake in Lear by 2.9% during the 4th quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company's stock worth $100,069,000 after buying an additional 29,370 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. The Goldman Sachs Group set a $88.00 price objective on Lear and gave the company a "neutral" rating in a report on Tuesday, May 6th. TD Cowen lowered Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a report on Friday, March 7th. Barclays lowered Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 9th. 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 company's stock. According to MarketBeat, Lear presently has a consensus rating of "Hold" and an average price target of $112.09.

Lear Stock Down 0.6%

Shares of NYSE LEA traded down $0.54 during mid-day trading on Wednesday, reaching $88.84. 113,359 shares of the company traded hands, compared to its average volume of 718,743. 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 has a market cap of $4.75 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. The company's fifty day moving average is $86.01 and its two-hundred day moving average is $92.38. Lear Co. has a fifty-two week low of $73.85 and a fifty-two week high of $126.85.

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, beating analysts' consensus estimates of $2.64 by $0.48. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. Lear had a return on equity of 14.70% and a net margin of 2.17%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.18 EPS. On average, analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

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 issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 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.