Highland Capital Management LLC Makes New Investment in Lear Co. (NYSE:LEA)

Highland Capital Management LLC acquired a new position in Lear Co. (NYSE:LEA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,434 shares of the auto parts company’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently modified their holdings of LEA. Brooklyn Investment Group boosted its stake in Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after buying an additional 120 shares in the last quarter. Lakewood Asset Management LLC boosted its position in shares of Lear by 1.3% during the 4th quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock valued at $943,000 after purchasing an additional 126 shares in the last quarter. Quarry LP grew its stake in shares of Lear by 13.8% in the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 134 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Lear by 4.2% during 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 during the last quarter. Institutional investors own 97.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LEA. Bank of America dropped their price target on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company cut their target price on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Morgan Stanley dropped their price target on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Barclays reduced their price objective on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.18.

Lear Trading Down 2.8 %

Lear stock opened at $94.12 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. Lear Co. has a 12 month low of $90.03 and a 12 month high of $147.11. The company’s fifty day simple moving average is $96.03 and its 200-day simple moving average is $103.99. The stock has a market cap of $5.11 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.61 and a beta of 1.43.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is presently 32.39%.

Lear 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.