Access Investment Management LLC Takes $2.82 Million Position in Lear Co. (NYSE:LEA)

Access Investment Management LLC bought a new position in Lear Co. (NYSE:LEA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the auto parts company's stock, valued at approximately $2,824,000.

Several other institutional investors have also made changes to their positions in the company. Signaturefd LLC lifted its stake in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company's stock worth $53,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Lear in the fourth quarter worth approximately $56,000. Covestor Ltd boosted its holdings in shares of Lear by 131.9% during the third quarter. Covestor Ltd now owns 443 shares of the auto parts company's stock worth $59,000 after purchasing an additional 252 shares during the period. Fifth Third Bancorp grew its position in Lear by 21.0% during the third quarter. Fifth Third Bancorp now owns 622 shares of the auto parts company's stock valued at $83,000 after purchasing an additional 108 shares in the last quarter. Finally, Quent Capital LLC increased its stake in Lear by 41.3% in the 4th quarter. Quent Capital LLC now owns 873 shares of the auto parts company's stock valued at $123,000 after buying an additional 255 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEA has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Lear from $177.00 to $179.00 and gave the company an "overweight" rating in a report on Monday, April 22nd. Citigroup dropped their target price on Lear from $145.00 to $141.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. UBS Group reduced their price target on Lear from $146.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, May 1st. Morgan Stanley upgraded Lear from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $150.00 to $160.00 in a report on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Lear from $134.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Lear has an average rating of "Moderate Buy" and an average price target of $161.44.

Lear Stock Performance

Shares of NYSE:LEA traded up $1.82 during trading on Friday, reaching $131.07. The stock had a trading volume of 628,283 shares, compared to its average volume of 708,952. The stock has a fifty day simple moving average of $137.36 and a two-hundred day simple moving average of $135.49. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.55. Lear Co. has a 52 week low of $120.48 and a 52 week high of $157.90. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.32 and a beta of 1.55.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a net margin of 2.28% and a return on equity of 14.47%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the firm posted $2.78 EPS. The business's quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Lear Co. will post 14.47 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.08 annualized dividend and a yield of 2.35%. Lear's payout ratio is 33.59%.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 2,750 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares in the company, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.79% of the company's stock.

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.