Pzena Investment Management LLC Has $676.19 Million Stake in Lear Corporation (NYSE:LEA)

Pzena Investment Management LLC lowered its stake in Lear Corporation (NYSE:LEA - Free Report) by 0.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,664,800 shares of the auto parts company's stock after selling 14,292 shares during the period. Lear accounts for approximately 2.4% of Pzena Investment Management LLC's holdings, making the stock its 19th biggest holding. Pzena Investment Management LLC owned 14.32% of Lear worth $676,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LEA. Vanguard Group Inc. boosted its stake 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 valued at $614,782,000 after purchasing an additional 447,835 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lear by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock valued at $247,566,000 after acquiring an additional 283,838 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lear by 6.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company's stock valued at $208,052,000 after acquiring an additional 145,751 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Lear by 45.9% in the fourth 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 in the last quarter. Finally, Lyrical Asset Management LP boosted its holdings in shares of Lear by 2.9% in the fourth quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company's stock valued at $100,069,000 after acquiring an additional 29,370 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Insiders Place Their Bets

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

Lear Price Performance

Shares of NYSE:LEA traded down $0.65 during midday trading on Thursday, reaching $105.86. 570,959 shares of the company's stock were exchanged, compared to its average volume of 710,909. The company's 50 day simple moving average is $95.27 and its two-hundred day simple moving average is $92.43. The firm has a market capitalization of $5.66 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $126.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $0.48. The business had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.47 billion. Lear had a net margin of 2.09% and a return on equity of 14.53%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $3.18 EPS. Equities research analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.91%. The ex-dividend date was Thursday, June 5th. Lear's payout ratio is presently 36.11%.

Analyst Upgrades and Downgrades

Several analysts recently commented on LEA shares. JPMorgan Chase & Co. increased their target price on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Barclays upped their price target on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Wednesday. UBS Group reiterated a "neutral" rating and issued a $116.00 price objective (up previously from $95.00) on shares of Lear in a research note on Monday. Finally, Morgan Stanley dropped their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $113.64.

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.