Invenomic Capital Management LP Takes Position in Lear Co. (NYSE:LEA)

Invenomic Capital Management LP purchased a new position in Lear Co. (NYSE:LEA - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 40,400 shares of the auto parts company's stock, valued at approximately $3,826,000. Invenomic Capital Management LP owned 0.07% of Lear at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in shares of Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company's stock worth $27,000 after acquiring an additional 187 shares during the period. Addison Advisors LLC boosted its holdings in Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. grew its position in Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company's stock worth $39,000 after purchasing an additional 287 shares during the period. Brooklyn Investment Group raised its stake in shares of Lear by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company's stock valued at $40,000 after buying an additional 120 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Lear by 51.1% in the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company's stock valued at $46,000 after buying an additional 166 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on LEA shares. UBS Group raised their target price on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley dropped their target price on Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Citigroup began coverage on shares of Lear in a research report on Wednesday, April 23rd. They set a "buy" rating and a $123.00 price target on the stock. StockNews.com upgraded shares of Lear from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Cowen lowered shares of Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $112.00.

Lear Price Performance

LEA traded down $0.69 during midday trading on Thursday, hitting $93.76. 392,709 shares of the company traded hands, compared to its average volume of 737,131. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.49 and a beta of 1.30. Lear Co. has a 52-week low of $73.85 and a 52-week high of $133.20. The business has a 50 day simple moving average of $87.20 and a two-hundred day simple moving average of $92.99.

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, beating the consensus estimate of $2.64 by $0.48. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. The company's revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $3.18 earnings per share. On average, equities analysts forecast that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 6th. Lear's payout ratio is 36.11%.

Insider Buying and Selling at Lear

In related news, Director Rod Lache purchased 2,178 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the acquisition, the director now owns 2,178 shares in the company, valued at $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.91% of the company's stock.

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.