Neuberger Berman Group LLC Purchases New Position in Lear Co. (NYSE:LEA)

Neuberger Berman Group LLC purchased a new stake in Lear Co. (NYSE:LEAFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,990 shares of the auto parts company’s stock, valued at approximately $563,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LEA. Nordea Investment Management AB raised its holdings in shares of Lear by 13.8% in the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock valued at $174,382,000 after buying an additional 149,958 shares during the last quarter. Norges Bank purchased a new stake in shares of Lear in the fourth quarter valued at about $79,611,000. Campbell & CO Investment Adviser LLC raised its holdings in shares of Lear by 56.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock valued at $2,842,000 after buying an additional 7,242 shares during the last quarter. ARGA Investment Management LP raised its holdings in shares of Lear by 83.9% in the fourth quarter. ARGA Investment Management LP now owns 107,582 shares of the auto parts company’s stock valued at $15,192,000 after buying an additional 49,070 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Lear in the fourth quarter valued at about $1,356,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Stock Down 0.5 %

Shares of NYSE LEA opened at $122.74 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04. The company has a market capitalization of $6.97 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.32 and a beta of 1.51. The firm’s 50-day moving average is $130.66 and its two-hundred day moving average is $134.86. Lear Co. has a 12-month low of $120.40 and a 12-month high of $157.90.

Lear (NYSE:LEAGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.78 earnings per share. Equities analysts anticipate that Lear Co. will post 14.32 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Thursday, June 6th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, June 6th. Lear’s payout ratio is 33.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LEA shares. Wells Fargo & Company upped their target price on shares of Lear from $134.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $160.00 in a research report on Friday, May 10th. Citigroup lowered their target price on shares of Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped 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. Finally, Barclays reduced 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.44.

Read Our Latest Report on LEA

Insider Activity at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the stock in a transaction that occurred on 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 at this link. Also, Director Greg C. Smith sold 2,392 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was 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. Insiders own 0.79% of the company’s stock.

Lear 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.

See Also

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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