Northpointe Capital LLC Has $2.07 Million Position in Lear Co. (LEA)

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Northpointe Capital LLC boosted its position in Lear Co. (NYSE:LEA) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,280 shares of the auto parts company’s stock after buying an additional 1,024 shares during the period. Northpointe Capital LLC’s holdings in Lear were worth $2,074,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinnacle Bank purchased a new position in Lear in the 4th quarter valued at $31,000. Massey Quick Simon & CO. LLC acquired a new stake in Lear in the fourth quarter valued at $32,000. IMS Capital Management acquired a new stake in Lear in the third quarter valued at $38,000. Oregon Public Employees Retirement Fund lifted its holdings in Lear by 11,007.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 4,854,451 shares during the period. Finally, Rational Advisors LLC acquired a new stake in Lear in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 98.09% of the company’s stock.

In related news, VP Shari L. Burgess sold 3,500 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $156.00, for a total value of $546,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Terrence B. Larkin sold 18,985 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $155.28, for a total transaction of $2,947,990.80. Following the completion of the transaction, the executive vice president now directly owns 2,752 shares of the company’s stock, valued at approximately $427,330.56. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

LEA has been the subject of a number of recent analyst reports. ValuEngine raised Lear from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Zacks Investment Research raised Lear from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Tuesday, February 5th. Barclays set a $140.00 target price on Lear and gave the company a “hold” rating in a report on Friday, January 4th. KeyCorp raised their target price on Lear from $178.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, January 28th. Finally, Robert W. Baird raised their target price on Lear from $140.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, January 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Lear has a consensus rating of “Buy” and a consensus price target of $178.87.

Shares of NYSE:LEA traded up $2.05 during midday trading on Wednesday, hitting $158.15. 3,451 shares of the stock were exchanged, compared to its average volume of 626,256. The company has a market capitalization of $9.82 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 3.50 and a beta of 1.32. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. Lear Co. has a twelve month low of $114.45 and a twelve month high of $206.36.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, January 25th. The auto parts company reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.09. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.38 EPS. As a group, equities analysts anticipate that Lear Co. will post 17.85 earnings per share for the current year.

Lear declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 7th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the auto parts company to buy up to 15.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, February 28th. This is an increase from Lear’s previous quarterly dividend of $0.70. Lear’s payout ratio is 16.47%.

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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 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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