Victory Capital Management Inc. Has $2.57 Million Stake in Lear Co. (NYSE:LEA)

Victory Capital Management Inc. grew its holdings in shares of Lear Co. (NYSE:LEA) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,143 shares of the auto parts company’s stock after acquiring an additional 5,922 shares during the quarter. Victory Capital Management Inc.’s holdings in Lear were worth $2,570,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. RWC Asset Management LLP raised its stake in Lear by 23.3% during the fourth quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company’s stock worth $38,913,000 after acquiring an additional 77,691 shares in the last quarter. Barclays PLC grew its holdings in shares of Lear by 9.8% during the third quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock worth $14,742,000 after purchasing an additional 12,094 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Lear by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 39,465 shares of the auto parts company’s stock worth $3,759,000 after purchasing an additional 5,711 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Lear by 17.1% during the fourth quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company’s stock worth $64,110,000 after purchasing an additional 99,072 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Lear during the third quarter worth about $1,946,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Price Performance

Lear stock opened at $94.56 on Monday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.49 and a beta of 1.44. Lear Co. has a 52-week low of $86.28 and a 52-week high of $147.11. The stock’s 50 day moving average price is $95.17 and its two-hundred day moving average price is $99.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, equities analysts predict that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Thursday, March 6th. Lear’s payout ratio is 34.45%.

Insider Transactions at Lear

In other news, Director Rod Lache bought 2,178 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, with a total value of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares of the company’s stock, valued at $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LEA has been the topic of several research reports. TD Cowen cut Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a report on Friday, March 7th. UBS Group reduced their price target on Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Morgan Stanley reduced their price target on Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Evercore ISI reduced their price target on Lear from $125.00 to $110.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Finally, Barclays reduced their target price on Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.36.

Lear Company 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.