ARGA Investment Management LP Has $56.41 Million Stock Holdings in Lear Co. (NYSE:LEA)

ARGA Investment Management LP raised its stake in shares of Lear Co. (NYSE:LEA) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 595,615 shares of the auto parts company’s stock after purchasing an additional 121,734 shares during the quarter. Lear accounts for 1.8% of ARGA Investment Management LP’s portfolio, making the stock its 19th largest holding. ARGA Investment Management LP owned approximately 1.10% of Lear worth $56,405,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barclays PLC boosted its stake in Lear by 9.8% in the 3rd quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock valued at $14,742,000 after buying an additional 12,094 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Lear by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 39,465 shares of the auto parts company’s stock valued at $3,759,000 after purchasing an additional 5,711 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Lear in the 3rd quarter worth about $1,946,000. Retirement Systems of Alabama increased its position in shares of Lear by 7.3% during the 3rd quarter. Retirement Systems of Alabama now owns 144,282 shares of the auto parts company’s stock worth $15,748,000 after purchasing an additional 9,774 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Lear by 39.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock valued at $2,316,000 after purchasing an additional 6,055 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on LEA. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Bank of America dropped their price target on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company reduced their price objective on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, TD Cowen reduced their price target 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. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lear currently has a consensus rating of “Hold” and an average price target of $132.18.

Lear Trading Up 2.1 %

LEA opened at $92.89 on Wednesday. Lear Co. has a fifty-two week low of $86.28 and a fifty-two week high of $147.11. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $95.75 and a 200 day simple moving average of $103.30.

Lear Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is currently 32.39%.

Lear Profile

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.