Neuberger Berman Group LLC Invests $563,000 in Lear Co. (NYSE:LEA)

Neuberger Berman Group LLC acquired a new position in Lear Co. (NYSE:LEAFree Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,990 shares of the auto parts company’s stock, valued at approximately $563,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after buying an additional 91 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Lear in the fourth quarter worth $56,000. Covestor Ltd lifted its stake in shares of Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock worth $59,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp increased its position in Lear by 21.4% during the fourth quarter. Fifth Third Bancorp now owns 755 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 133 shares during the period. Finally, Quent Capital LLC increased its position in Lear by 41.3% during the fourth quarter. Quent Capital LLC now owns 873 shares of the auto parts company’s stock worth $123,000 after acquiring an additional 255 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Down 0.5 %

Shares of NYSE LEA opened at $122.74 on Tuesday. The firm’s 50-day simple moving average is $130.66 and its 200 day simple moving average is $134.86. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.32 and a beta of 1.51. 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 12-month low of $120.40 and a 12-month high of $157.90.

Lear (NYSE:LEAGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.14. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.78 EPS. On average, research analysts expect that Lear Co. will post 14.32 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.08 dividend on an annualized basis and a yield of 2.51%. Lear’s payout ratio is presently 33.59%.

Wall Street Analyst Weigh In

LEA has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup lowered their price target on shares of Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price target on shares of Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Finally, UBS Group lowered their price target on shares of Lear from $146.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.44.

Get Our Latest Report on Lear

Insider Buying and Selling at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Lear Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Co. (NYSE:LEAFree Report).

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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