Principal Financial Group Inc. Purchases 15,748 Shares of Lear Co. (NYSE:LEA)

Principal Financial Group Inc. increased its position in shares of Lear Co. (NYSE:LEA) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,034 shares of the auto parts company’s stock after acquiring an additional 15,748 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of Lear worth $32,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Lear by 96.9% during the 3rd quarter. Van ECK Associates Corp now owns 191 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 94 shares in the last quarter. JFS Wealth Advisors LLC purchased a new stake in shares of Lear in the 3rd quarter valued at $35,000. Liberty Wealth Management LLC boosted its holdings in shares of Lear by 12,812.2% in the 2nd quarter. Liberty Wealth Management LLC now owns 6,327 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 6,278 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Lear in the 3rd quarter valued at $51,000. Finally, Berman Capital Advisors LLC boosted its holdings in shares of Lear by 325.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 323 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Shares of LEA stock opened at $191.05 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a market cap of $11.39 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.53. The company has a 50-day moving average of $181.06 and a two-hundred day moving average of $171.14. Lear Co. has a 1-year low of $144.77 and a 1-year high of $204.91.

Lear (NYSE:LEA) last announced its earnings results on Monday, November 1st. The auto parts company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.03). The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Lear had a return on equity of 13.20% and a net margin of 2.82%. During the same period last year, the business earned $3.73 EPS. Sell-side analysts anticipate that Lear Co. will post 7.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Shareholders of record on Friday, December 10th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, December 9th. This is a positive change from Lear’s previous quarterly dividend of $0.50. Lear’s dividend payout ratio (DPR) is 33.70%.

In other news, VP Marianne Vidershain sold 170 shares of the firm’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $179.01, for a total value of $30,431.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.43% of the company’s stock.

LEA has been the topic of several recent research reports. Zacks Investment Research raised shares of Lear from a “strong sell” rating to a “hold” rating and set a $177.00 price objective on the stock in a report on Tuesday, November 30th. Barclays dropped their price objective on shares of Lear from $170.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, December 16th. Wells Fargo & Company downgraded shares of Lear from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $191.00 to $195.00 in a report on Thursday, December 16th. Royal Bank of Canada downgraded shares of Lear from an “outperform” rating to a “sector perform” rating and set a $176.00 price objective on the stock. in a report on Wednesday, November 3rd. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their price objective on shares of Lear from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, December 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $192.93.

Lear Company Profile

Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.

Featured Article: Trading Penny Stocks

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.