Northern Trust Corp Boosts Holdings in Lear Co. (NYSE:LEA)

Northern Trust Corp raised its holdings in Lear Co. (NYSE:LEA - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 500,508 shares of the auto parts company's stock after acquiring an additional 108,756 shares during the period. Northern Trust Corp owned approximately 0.92% of Lear worth $47,398,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new stake in shares of Lear in the fourth quarter worth $90,700,000. Massachusetts Financial Services Co. MA boosted its position in Lear by 29.1% during 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 acquiring an additional 498,918 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Lear by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after buying an additional 447,835 shares during the last quarter. First Trust Advisors LP grew its stake in 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 during the last quarter. Finally, Norges Bank acquired a new position in Lear during the 4th quarter valued at approximately $31,881,000. Institutional investors own 97.04% of the company's stock.

Insider Buying and Selling at Lear

In other news, Director Rod Lache bought 2,178 shares of the firm'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 directly owns 2,178 shares of the company's stock, valued at $199,940.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LEA has been the topic of several recent research reports. Barclays lowered Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Morgan Stanley reduced 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 cut 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 note on Monday, February 10th. Citigroup assumed coverage on shares of Lear in a report on Wednesday, April 23rd. They issued a "buy" rating and a $123.00 price objective on the stock. Finally, The Goldman Sachs Group set a $88.00 price target on Lear and gave the stock a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Lear has a consensus rating of "Hold" and a consensus price target of $112.00.

Lear Price Performance

Shares of NYSE:LEA traded up $1.64 on Friday, hitting $90.57. The company's stock had a trading volume of 463,871 shares, compared to its average volume of 738,367. The company has a 50-day simple moving average of $87.26 and a 200 day simple moving average of $92.99. The company has a market capitalization of $4.84 billion, a PE ratio of 10.13, a PEG ratio of 0.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. Lear Co. has a 1 year low of $73.85 and a 1 year high of $133.56.

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

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were issued a $0.77 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 3.40%. Lear's dividend payout ratio is currently 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.