National Bank of Canada FI Invests $1.96 Million in Lear Co. (NYSE:LEA)

National Bank of Canada FI acquired a new stake in Lear Co. (NYSE:LEA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,700 shares of the auto parts company’s stock, valued at approximately $1,960,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Schroder Investment Management Group bought a new position in shares of Lear in the fourth quarter valued at approximately $90,700,000. Vanguard Group Inc. raised its holdings in Lear by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company’s stock worth $614,782,000 after acquiring an additional 447,835 shares during the period. Norges Bank bought a new position in Lear in the 4th quarter worth $31,881,000. American Century Companies Inc. lifted its position in Lear by 310.5% during the 4th quarter. American Century Companies Inc. now owns 345,580 shares of the auto parts company’s stock worth $32,726,000 after acquiring an additional 261,390 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Lear by 89.4% during the fourth quarter. Franklin Resources Inc. now owns 372,800 shares of the auto parts company’s stock valued at $35,304,000 after acquiring an additional 175,971 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Price Performance

Shares of LEA stock opened at $75.03 on Wednesday. The stock’s fifty day simple moving average is $93.21 and its 200 day simple moving average is $96.97. Lear Co. has a one year low of $74.27 and a one year high of $144.11. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 0.49 and a beta of 1.34. 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 (NYSE:LEA) last issued its earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, analysts expect that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 4.11%. Lear’s dividend payout ratio is 34.45%.

Insider Buying and Selling at Lear

In related news, Director Rod Lache bought 2,178 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $91.80 per share, with a total value of $199,940.40. Following the completion of the purchase, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

LEA has been the subject of several research analyst reports. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Barclays cut their price target on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Morgan Stanley dropped their target price on shares of Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Evercore ISI reduced their price target on shares of Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Finally, UBS Group dropped their price objective on shares of Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.36.

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.