Tidal Investments LLC Purchases 4,742 Shares of Lear Co. (NYSE:LEA)

Tidal Investments LLC lifted its position in shares of Lear Co. (NYSE:LEA) by 57.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,937 shares of the auto parts company’s stock after acquiring an additional 4,742 shares during the quarter. Tidal Investments LLC’s holdings in Lear were worth $1,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its position in Lear by 5.9% in the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company’s stock worth $873,000 after purchasing an additional 515 shares during the period. RWC Asset Management LLP grew its position in shares of Lear by 23.3% during the 4th quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company’s stock worth $38,913,000 after buying an additional 77,691 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Lear during the fourth quarter worth approximately $3,871,000. Dimensional Fund Advisors LP lifted its holdings in Lear by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company’s stock valued at $247,566,000 after buying an additional 283,838 shares during the period. Finally, Barclays PLC boosted its stake in Lear by 9.8% in the third quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock valued at $14,742,000 after acquiring an additional 12,094 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LEA shares. Barclays cut shares of Lear from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. Cowen lowered Lear from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. TD Cowen cut Lear from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a research note on Friday, March 7th. Finally, Wall Street Zen raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Lear presently has an average rating of “Hold” and a consensus price target of $112.09.

Insider Buying and Selling

In other news, Director Rod Lache bought 2,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the transaction, the director now owns 2,178 shares in the company, valued at $199,940.40. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.91% of the company’s stock.

Lear Trading Down 1.6%

NYSE:LEA opened at $89.08 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. The business’s 50-day simple moving average is $86.72 and its 200-day simple moving average is $92.72. Lear Co. has a fifty-two week low of $73.85 and a fifty-two week high of $127.58. The stock has a market capitalization of $4.76 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30.

Lear (NYSE:LEA) last announced its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.64 by $0.48. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $3.18 EPS. Sell-side analysts expect that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 5th will be given a $0.77 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.08 annualized dividend and a yield of 3.46%. Lear’s dividend payout ratio is currently 36.11%.

About Lear

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.