Lakewood Asset Management LLC Acquires 126 Shares of Lear Co. (NYSE:LEA)

Lakewood Asset Management LLC increased its holdings in Lear Co. (NYSE:LEA) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,957 shares of the auto parts company’s stock after purchasing an additional 126 shares during the quarter. Lakewood Asset Management LLC’s holdings in Lear were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Lear by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 15,166 shares of the auto parts company’s stock valued at $1,732,000 after acquiring an additional 951 shares during the last quarter. American Century Companies Inc. increased its stake in Lear by 22.7% in the 2nd quarter. American Century Companies Inc. now owns 75,147 shares of the auto parts company’s stock worth $8,583,000 after purchasing an additional 13,909 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Lear by 21.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,825 shares of the auto parts company’s stock valued at $551,000 after purchasing an additional 855 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Lear by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,506,839 shares of the auto parts company’s stock valued at $172,096,000 after purchasing an additional 32,275 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lear by 36.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

Lear stock opened at $94.29 on Thursday. The stock’s 50 day moving average is $96.21 and its 200 day moving average is $105.59. The company has a market capitalization of $5.12 billion, a P/E ratio of 9.91, a PEG ratio of 0.47 and a beta of 1.43. Lear Co. has a twelve month low of $90.03 and a twelve month high of $147.11. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 EPS. On average, equities research analysts predict that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Wednesday, December 11th. Lear’s dividend payout ratio is currently 32.39%.

Analysts Set New Price Targets

LEA has been the subject of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. TD Cowen decreased their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Barclays cut Lear from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. Seven 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, the company currently has a consensus rating of “Hold” and an average target price of $134.18.

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.