Prakash Investment Advisors LLC Makes New $379,000 Investment in Lear Co. (NYSE:LEA)

Prakash Investment Advisors LLC bought a new position in Lear Co. (NYSE:LEA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the auto parts company’s stock, valued at approximately $379,000.

Several other large investors also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Lear by 9.8% during the third quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock valued at $14,742,000 after acquiring an additional 12,094 shares during the period. Nordea Investment Management AB grew its position in Lear by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 39,465 shares of the auto parts company’s stock worth $3,759,000 after buying an additional 5,711 shares during the last quarter. Intech Investment Management LLC acquired a new position in Lear in the third quarter worth approximately $1,946,000. Retirement Systems of Alabama grew its position in Lear by 7.3% in the third quarter. Retirement Systems of Alabama now owns 144,282 shares of the auto parts company’s stock worth $15,748,000 after buying an additional 9,774 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Lear by 39.9% in the third quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after buying an additional 6,055 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

LEA has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Lear from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. TD Cowen lowered their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Barclays lowered their price objective on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $127.00.

Lear Stock Up 0.5 %

Lear stock opened at $97.55 on Friday. The firm has a fifty day moving average price of $94.91 and a two-hundred day moving average price of $101.59. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. Lear Co. has a fifty-two week low of $86.28 and a fifty-two week high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. As a group, analysts forecast that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.08 annualized dividend and a dividend yield of 3.16%. Lear’s dividend payout ratio (DPR) is currently 34.45%.

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.