ARGA Investment Management LP Purchases 121,734 Shares of Lear Co. (NYSE:LEA)

ARGA Investment Management LP raised its position in Lear Co. (NYSE:LEA) by 25.7% in the 4th quarter, Holdings Channel reports. The firm owned 595,615 shares of the auto parts company’s stock after buying an additional 121,734 shares during the period. Lear accounts for approximately 1.8% of ARGA Investment Management LP’s investment portfolio, making the stock its 19th biggest holding. ARGA Investment Management LP’s holdings in Lear were worth $56,405,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group boosted its position in Lear by 39.1% during 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 last quarter. Lakewood Asset Management LLC increased its stake in Lear by 1.3% in the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after buying an additional 126 shares during the last quarter. Quarry LP increased its stake in Lear by 13.8% in the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock valued at $121,000 after buying an additional 134 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after buying an additional 139 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 143 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Trading Up 2.1 %

Shares of NYSE:LEA opened at $92.89 on Wednesday. Lear Co. has a 12-month low of $86.28 and a 12-month high of $147.11. The business has a 50 day moving average of $95.75 and a 200-day moving average of $103.30. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.05 billion, a PE ratio of 9.77, a P/E/G ratio of 0.61 and a beta of 1.42.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 11th were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.32%. Lear’s dividend payout ratio (DPR) is presently 32.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Barclays cut their price objective on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Bank of America decreased their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus target price of $132.18.

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.