Louisiana State Employees Retirement System Makes New $2.32 Million Investment in Lear Co. (NYSE:LEA)

Louisiana State Employees Retirement System purchased a new stake in shares of Lear Co. (NYSE:LEA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,400 shares of the auto parts company's stock, valued at approximately $2,316,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in shares of Lear during the third quarter valued at approximately $26,000. Belpointe Asset Management LLC raised its holdings in Lear by 90.8% in the 1st quarter. Belpointe Asset Management LLC now owns 290 shares of the auto parts company's stock worth $40,000 after purchasing an additional 138 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Lear in the 2nd quarter worth about $57,000. Covestor Ltd boosted its stake in shares of Lear by 131.9% during the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company's stock valued at $59,000 after purchasing an additional 252 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Lear by 58.4% during the second quarter. Lazard Asset Management LLC now owns 583 shares of the auto parts company's stock valued at $83,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 97.04% of the company's stock.

Lear Stock Down 1.2 %

Shares of NYSE LEA traded down $1.56 during midday trading on Wednesday, hitting $130.43. The stock had a trading volume of 430,299 shares, compared to its average volume of 529,784. The company has a market cap of $7.43 billion, a P/E ratio of 13.47, a PEG ratio of 0.33 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The business's 50 day moving average is $139.02 and its 200-day moving average is $135.84. Lear Co. has a 52 week low of $117.79 and a 52 week high of $157.90.

Lear (NYSE:LEA - Get Free Report) last issued its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.81 earnings per share. As a group, analysts predict that Lear Co. will post 14.55 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, March 7th. Lear's payout ratio is presently 31.82%.

Analysts Set New Price Targets

LEA has been the subject of several research analyst reports. Benchmark raised their price objective on shares of Lear from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, January 2nd. StockNews.com upgraded Lear from a "hold" rating to a "buy" rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price objective on Lear from $195.00 to $179.00 and set an "overweight" rating for the company in a research report on Thursday, January 25th. Wells Fargo & Company upped their target price on shares of Lear from $130.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 7th. Finally, Barclays lifted their price target on shares of Lear from $170.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Lear currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.44.

Insider Transactions at Lear

In related news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares in the company, valued at $2,465,019.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lear news, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares of the company's stock, valued at $1,810,483.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason M. Cardew sold 2,750 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the sale, the chief financial officer now owns 17,506 shares of the company's stock, valued at $2,465,019.86. The disclosure for this sale can be found here. Company insiders own 0.79% 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.