Burney Co. Buys 1,480 Shares of Lear Co. (NYSE:LEA)

Burney Co. increased its stake in shares of Lear Co. (NYSE:LEA) by 51.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,335 shares of the auto parts company’s stock after buying an additional 1,480 shares during the quarter. Burney Co.’s holdings in Lear were worth $588,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Bank bought a new stake in Lear during the fourth quarter worth $31,000. Oregon Public Employees Retirement Fund grew its holdings in Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after buying an additional 4,854,451 shares in the last quarter. Rational Advisors LLC bought a new stake in Lear during the fourth quarter worth $49,000. Quadrant Capital Group LLC grew its holdings in Lear by 78.2% during the first quarter. Quadrant Capital Group LLC now owns 531 shares of the auto parts company’s stock worth $69,000 after buying an additional 233 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in Lear by 25.1% during the fourth quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

LEA stock opened at $135.90 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.34. Lear Co. has a 1-year low of $114.45 and a 1-year high of $203.78. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 3.09 and a beta of 1.41.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.06 by ($0.06). Lear had a return on equity of 25.28% and a net margin of 4.94%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the firm posted $5.10 EPS. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts predict that Lear Co. will post 17.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.21%. Lear’s dividend payout ratio is presently 16.47%.

Several equities research analysts recently issued reports on LEA shares. Deutsche Bank downgraded Lear from a “buy” rating to a “hold” rating and decreased their price target for the stock from $162.00 to $159.00 in a report on Tuesday, March 19th. Longbow Research reiterated a “buy” rating and set a $190.00 price target on shares of Lear in a report on Wednesday, March 6th. ValuEngine downgraded Lear from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Argus started coverage on Lear in a research report on Thursday, March 28th. They issued a “hold” rating on the stock. Finally, KeyCorp cut their price objective on Lear from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $175.07.

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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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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