40,357 Shares in Lear Co. (NYSE:LEA) Acquired by Grimes & Company Inc.

Grimes & Company Inc. purchased a new position in shares of Lear Co. (NYSE:LEA) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 40,357 shares of the auto parts company’s stock, valued at approximately $5,847,000. Grimes & Company Inc. owned about 0.07% of Lear at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its position in Lear by 13.8% during the 4th quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock worth $174,382,000 after acquiring an additional 149,958 shares during the last quarter. Norges Bank bought a new stake in shares of Lear in the 4th quarter worth approximately $79,611,000. Campbell & CO Investment Adviser LLC grew its position in shares of Lear by 56.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock worth $2,842,000 after buying an additional 7,242 shares during the last quarter. Alaska Permanent Fund Corp grew its position in shares of Lear by 307.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock worth $1,864,000 after buying an additional 9,714 shares during the last quarter. Finally, ARGA Investment Management LP grew its position in shares of Lear by 83.9% in the 4th quarter. ARGA Investment Management LP now owns 107,582 shares of the auto parts company’s stock worth $15,192,000 after buying an additional 49,070 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Insider Transactions at Lear

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

Lear Stock Up 0.5 %

NYSE:LEA traded up $0.55 during trading hours on Friday, reaching $114.21. 956,083 shares of the company traded hands, compared to its average volume of 1,005,831. The business’s 50-day moving average price is $124.78 and its two-hundred day moving average price is $133.00. The stock has a market capitalization of $6.49 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.26 and a beta of 1.51. Lear Co. has a 1 year low of $112.55 and a 1 year high of $157.90. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55.

Lear (NYSE:LEA) 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 analysts’ consensus estimates of $3.04 by $0.14. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 earnings per share. Analysts predict that Lear Co. will post 14.21 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, June 6th. Lear’s dividend payout ratio is currently 33.59%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LEA. Barclays cut their price objective on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup dropped their price target on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. StockNews.com lowered Lear from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley upgraded Lear from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $160.00 in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.63.

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.