Wells Fargo & Company MN Sells 31,646 Shares of Lear Co. (NYSE:LEA)

Wells Fargo & Company MN lowered its stake in Lear Co. (NYSE:LEA - Free Report) by 68.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,867 shares of the auto parts company's stock after selling 31,646 shares during the period. Wells Fargo & Company MN's holdings in Lear were worth $1,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group bought a new position in shares of Lear during the fourth quarter valued at $90,700,000. Massachusetts Financial Services Co. MA grew its position in Lear by 29.1% in the 4th 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 period. Vanguard Group Inc. increased its position in shares of Lear by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after acquiring an additional 447,835 shares in the last quarter. Norges Bank purchased a new stake in shares of Lear in the fourth quarter worth approximately $31,881,000. Finally, American Century Companies Inc. raised its holdings in shares of Lear by 310.5% in the fourth quarter. American Century Companies Inc. now owns 345,580 shares of the auto parts company's stock valued at $32,726,000 after purchasing an additional 261,390 shares during the last quarter. Institutional investors own 97.04% of the company's stock.

Insider Activity

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

Lear Stock Performance

Shares of NYSE:LEA traded down $1.04 during midday trading on Wednesday, reaching $85.82. 526,481 shares of the company's stock traded hands, compared to its average volume of 746,359. Lear Co. has a one year low of $73.85 and a one year high of $133.56. The stock has a 50 day moving average of $88.49 and a 200 day moving average of $94.06. 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 company has a market cap of $4.59 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.49 and a beta of 1.34.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. As a group, equities research analysts anticipate that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 3.59%. Lear's dividend payout ratio (DPR) is presently 34.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Cowen cut shares of Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, TD Cowen lowered shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 target price on the stock. in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $113.91.

Lear Company 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.