Oldfield Partners LLP Buys 33,313 Shares of Lear Corporation $LEA

Oldfield Partners LLP increased its stake in shares of Lear Corporation (NYSE:LEA) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,286 shares of the auto parts company’s stock after purchasing an additional 33,313 shares during the quarter. Lear accounts for 20.9% of Oldfield Partners LLP’s holdings, making the stock its 2nd largest holding. Oldfield Partners LLP owned about 1.24% of Lear worth $73,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group increased its stake in shares of Lear by 75.6% during the second quarter. Schroder Investment Management Group now owns 1,801,284 shares of the auto parts company’s stock worth $171,086,000 after buying an additional 775,476 shares during the period. American Century Companies Inc. raised its holdings in shares of Lear by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock valued at $120,577,000 after purchasing an additional 558,538 shares in the last quarter. Norges Bank purchased a new stake in shares of Lear during the 2nd quarter worth $48,468,000. Balyasny Asset Management L.P. acquired a new position in shares of Lear during the second quarter worth $39,656,000. Finally, Caisse de depot et placement du Quebec purchased a new position in Lear in the third quarter valued at $40,984,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Trading Up 4.6%

LEA opened at $118.68 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $142.84. The business’s 50 day moving average is $125.63 and its two-hundred day moving average is $114.19. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.26.

Lear (NYSE:LEA) last posted its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.74. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 earnings per share. On average, research analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Thursday, March 5th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. Lear’s dividend payout ratio is currently 37.79%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target on shares of Lear in a research note on Thursday, January 15th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. UBS Group raised their target price on Lear from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup boosted their target price on Lear from $146.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Evercore upped their price target on Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Lear presently has a consensus rating of “Hold” and an average price target of $138.00.

Insider Buying and Selling at Lear

In other news, VP Marianne Vidershain sold 1,590 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the completion of the sale, the vice president directly owned 1,862 shares of the company’s stock, valued at approximately $251,370. This represents a 46.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason M. Cardew sold 10,000 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $134.51, for a total transaction of $1,345,100.00. Following the sale, the chief financial officer owned 22,741 shares of the company’s stock, valued at $3,058,891.91. This trade represents a 30.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 25,264 shares of company stock valued at $3,400,687. Company insiders own 0.91% of the company’s stock.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.