State of Wisconsin Investment Board Increases Stake in Lear Co. (LEA)

State of Wisconsin Investment Board boosted its position in Lear Co. (NYSE:LEA) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,040 shares of the auto parts company’s stock after buying an additional 6,621 shares during the period. State of Wisconsin Investment Board owned about 0.16% of Lear worth $15,438,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Baystate Wealth Management LLC increased its stake in Lear by 0.9% in the first quarter. Baystate Wealth Management LLC now owns 1,095 shares of the auto parts company’s stock worth $145,000 after buying an additional 10 shares in the last quarter. CENTRAL TRUST Co increased its stake in Lear by 1.1% in the first quarter. CENTRAL TRUST Co now owns 2,327 shares of the auto parts company’s stock worth $329,000 after buying an additional 25 shares in the last quarter. IFP Advisors Inc increased its stake in Lear by 1.8% in the first quarter. IFP Advisors Inc now owns 1,393 shares of the auto parts company’s stock worth $197,000 after buying an additional 25 shares in the last quarter. First Interstate Bank increased its stake in Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the auto parts company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Finally, Strs Ohio increased its stake in Lear by 0.6% in the first quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock worth $685,000 after buying an additional 30 shares in the last quarter. 97.32% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Shares of Lear Co. (NYSE:LEA) traded up 1.09% during midday trading on Friday, hitting $143.47. The stock had a trading volume of 662,324 shares. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 9.98 and a beta of 1.27. Lear Co. has a 52 week low of $97.35 and a 52 week high of $149.00. The stock has a 50 day moving average price of $139.22 and a 200-day moving average price of $137.27.

Lear (NYSE:LEA) last posted its quarterly earnings results on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.32. Lear had a return on equity of 32.21% and a net margin of 5.25%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company earned $3.40 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Lear Co. will post $16.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Friday, June 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.41%. The ex-dividend date is Wednesday, June 7th. Lear’s payout ratio is presently 9.00%.

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A number of analysts have recently commented on the company. Royal Bank of Canada reissued a “hold” rating and issued a $148.00 price objective on shares of Lear in a research note on Monday, April 10th. Robert W. Baird raised Lear from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $161.00 in a research note on Thursday, April 20th. Seaport Global Securities raised Lear from a “neutral” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Thursday, May 4th. Zacks Investment Research downgraded Lear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $134.00 price objective (down previously from $138.00) on shares of Lear in a research note on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $144.75.

In related news, Director Thomas P. Capo sold 1,500 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the sale, the director now owns 345 shares of the company’s stock, valued at approximately $50,476.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mel Stephens sold 21,132 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $144.55, for a total value of $3,054,630.60. Following the sale, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $5,782,000. The disclosure for this sale can be found here. Insiders have sold a total of 22,667 shares of company stock worth $3,279,058 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

About Lear

Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.

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