Tidal Investments LLC Increases Holdings in Lear Co. (NYSE:LEA)

Tidal Investments LLC lifted its stake in Lear Co. (NYSE:LEA - Free Report) by 57.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,937 shares of the auto parts company's stock after buying an additional 4,742 shares during the period. Tidal Investments LLC's holdings in Lear were worth $1,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Schroder Investment Management Group purchased a new position in shares of Lear during the fourth quarter worth about $90,700,000. Massachusetts Financial Services Co. MA raised 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 purchasing an additional 498,918 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lear by 7.4% in 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 in the last quarter. First Trust Advisors LP raised its stake in shares of 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lear in the fourth quarter valued at approximately $31,881,000. Institutional investors and hedge funds own 97.04% of the company's stock.

Analysts Set New Price Targets

LEA has been the topic of several research analyst reports. Cowen lowered shares of Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the company a "neutral" rating in a research report on Tuesday, May 6th. TD Cowen downgraded Lear from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research note on Friday, March 7th. Wall Street Zen upgraded Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $112.09.

Insider Buying and Selling

In other news, Director Rod Lache purchased 2,178 shares of the company's stock in a transaction on 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 purchase, the director now directly owns 2,178 shares of the company's stock, valued at $199,940.40. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by company insiders.

Lear Trading Up 0.0%

Shares of NYSE:LEA traded up $0.04 during trading on Friday, reaching $91.25. The stock had a trading volume of 130,465 shares, compared to its average volume of 735,450. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $4.88 billion, a P/E ratio of 10.23, a PEG ratio of 0.49 and a beta of 1.30. The business has a fifty day moving average price of $86.31 and a 200-day moving average price of $92.58. Lear Co. has a fifty-two week low of $73.85 and a fifty-two week high of $127.58.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.48. Lear had a return on equity of 14.70% and a net margin of 2.17%. The business had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter last year, the firm earned $3.18 earnings per share. The business's revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, June 5th. Lear's dividend payout ratio (DPR) 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.