SRS Capital Advisors Inc. Buys 1,289 Shares of Lear Co. (NYSE:LEA)

SRS Capital Advisors Inc. raised its stake in Lear Co. (NYSE:LEA) by 14,322.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,298 shares of the auto parts company’s stock after purchasing an additional 1,289 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Lear were worth $123,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LEA. QRG Capital Management Inc. lifted its position in shares of Lear by 11.9% in the fourth quarter. QRG Capital Management Inc. now owns 7,507 shares of the auto parts company’s stock worth $711,000 after buying an additional 796 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Lear by 67.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,103 shares of the auto parts company’s stock worth $3,135,000 after acquiring an additional 13,281 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Lear by 17.1% during the 4th quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company’s stock worth $64,110,000 after acquiring an additional 99,072 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 137 shares during the last quarter. Finally, RWC Asset Management LLP grew its holdings in shares of Lear by 23.3% in the fourth quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company’s stock valued at $38,913,000 after purchasing an additional 77,691 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

LEA has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company increased their price target on shares of Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. UBS Group lowered their price objective on Lear from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, Barclays cut their target price on Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $126.09.

Lear Stock Up 5.2 %

Shares of LEA opened at $93.96 on Thursday. The firm has a fifty day moving average price of $94.90 and a 200-day moving average price of $100.57. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $5.04 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.49 and a beta of 1.44. Lear Co. has a 12-month low of $86.28 and a 12-month high of $147.11.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Equities research analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.08 annualized dividend and a yield of 3.28%. Lear’s payout ratio is currently 34.45%.

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.