Prudential Financial Inc. Has $939,000 Position in Lear Co. (NYSE:LEA)

Prudential Financial Inc. cut its holdings in Lear Co. (NYSE:LEA) by 78.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,817 shares of the auto parts company’s stock after selling 36,263 shares during the quarter. Prudential Financial Inc.’s holdings in Lear were worth $939,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group increased its position in shares of Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 120 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in Lear by 1.3% during the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock worth $943,000 after purchasing an additional 126 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 137 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Lear by 4.2% in the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after purchasing an additional 143 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after buying an additional 187 shares during the period. 97.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Rod Lache purchased 2,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $91.80 per share, with a total value of $199,940.40. Following the acquisition, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.

Lear Trading Down 3.7 %

Lear stock opened at $78.45 on Tuesday. The stock has a 50-day simple moving average of $94.04 and a 200 day simple moving average of $97.35. The stock has a market capitalization of $4.21 billion, a P/E ratio of 8.78, a PEG ratio of 0.49 and a beta of 1.34. 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 Co. has a 52 week low of $75.96 and a 52 week high of $144.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share 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%. Analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Thursday, March 6th. Lear’s dividend payout ratio is presently 34.45%.

Wall Street Analysts Forecast Growth

LEA has been the topic of several research reports. Wells Fargo & Company boosted their target price on Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Barclays cut their price objective on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Cowen cut shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, TD Cowen cut Lear from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.36.

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.