Summit Investment Advisors Inc. Has $1.03 Million Position in Lear Co. (NYSE:LEA)

Summit Investment Advisors Inc. decreased its position in Lear Co. (NYSE:LEA) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,884 shares of the auto parts company’s stock after selling 658 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lear were worth $1,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group raised its holdings in Lear by 39.1% in the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 120 shares during the period. Lakewood Asset Management LLC grew its position in shares of Lear by 1.3% in the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after purchasing an additional 126 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 137 shares during the period. Wellington Management Group LLP lifted its position in shares of Lear by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock worth $385,000 after purchasing an additional 143 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 166 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lear

In other Lear news, Director Rod Lache bought 2,178 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the acquisition, the director now owns 2,178 shares of the company’s stock, valued at approximately $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.

Lear Trading Up 2.5 %

Shares of LEA opened at $79.48 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market cap of $4.26 billion, a PE ratio of 8.89, a PEG ratio of 0.49 and a beta of 1.34. Lear Co. has a 1 year low of $73.85 and a 1 year high of $138.69. The stock has a 50 day simple moving average of $90.76 and a 200-day simple moving average of $95.46.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, sell-side analysts predict that Lear Co. will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 3.88%. Lear’s dividend payout ratio is 34.45%.

Analysts Set New Price Targets

A number of research analysts have recently commented on LEA shares. Cowen lowered Lear from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Barclays cut shares of Lear from an “equal weight” rating to a “negative” rating in a research note on Tuesday. TD Cowen lowered shares of Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Friday, March 7th. UBS Group cut their price objective on shares of Lear from $102.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $84.00 target price (down from $117.00) on shares of Lear in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.27.

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.