Gotham Asset Management LLC Increases Stake in Lear Co. (NYSE:LEA)

Gotham Asset Management LLC lifted its position in Lear Co. (NYSE:LEA - Free Report) by 59.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 148,769 shares of the auto parts company's stock after buying an additional 55,391 shares during the period. Gotham Asset Management LLC owned about 0.27% of Lear worth $14,088,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in shares of Lear in the 4th quarter worth $90,700,000. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $209,531,000 after purchasing an additional 498,918 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lear by 7.4% in the fourth 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. First Trust Advisors LP lifted its holdings 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 valued at $107,313,000 after buying an additional 356,760 shares during the period. Finally, Norges Bank bought a new stake in shares of Lear in the fourth quarter worth $31,881,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insiders Place Their Bets

In other news, Director Rod Lache purchased 2,178 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the acquisition, the director now owns 2,178 shares of the company's stock, valued at approximately $199,940.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is currently owned by insiders.

Lear Price Performance

NYSE:LEA opened at $90.57 on Friday. The company has a market capitalization of $4.84 billion, a P/E ratio of 10.13, a P/E/G ratio of 0.49 and a beta of 1.30. The business's 50-day moving average is $87.26 and its 200 day moving average is $93.03. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear Co. has a 12 month low of $73.85 and a 12 month high of $133.56.

Lear (NYSE:LEA - Get Free Report) last posted its earnings results 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. Lear had a return on equity of 14.70% and a net margin of 2.17%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the company earned $3.18 EPS. The company's quarterly revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts forecast 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 was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were given a $0.77 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 3.40%. Lear's dividend payout ratio is currently 36.11%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley dropped their target price on Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Evercore ISI decreased their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Citigroup assumed coverage on Lear in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $123.00 price objective for the company. Barclays lowered Lear from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group set a $88.00 price objective on Lear and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $112.00.

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.

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