FDx Advisors Inc. reduced its stake in Lear Co. (NYSE:LEA) by 46.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,933 shares of the auto parts company’s stock after selling 4,195 shares during the quarter. FDx Advisors Inc.’s holdings in Lear were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Lear by 20.2% during the 2nd quarter. Alps Advisors Inc. now owns 3,021 shares of the auto parts company’s stock worth $534,000 after acquiring an additional 507 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Lear during the 2nd quarter worth approximately $646,000. Aperio Group LLC boosted its stake in shares of Lear by 4.0% during the 2nd quarter. Aperio Group LLC now owns 33,032 shares of the auto parts company’s stock worth $6,138,000 after acquiring an additional 1,279 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Lear by 62.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,160 shares of the auto parts company’s stock worth $5,418,000 after acquiring an additional 11,156 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Lear by 36.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,492 shares of the auto parts company’s stock worth $1,392,000 after acquiring an additional 2,012 shares during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on LEA shares. Citigroup reduced their target price on Lear from $234.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, October 12th. Goldman Sachs Group upgraded Lear from a “neutral” rating to a “buy” rating and set a $195.00 price target for the company in a research note on Thursday, October 11th. Morgan Stanley reduced their price target on Lear from $214.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. ValuEngine upgraded Lear from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Finally, Zacks Investment Research upgraded Lear from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $201.60.
Shares of NYSE LEA opened at $136.25 on Monday. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 8.01 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. Lear Co. has a fifty-two week low of $128.05 and a fifty-two week high of $206.36.
Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, October 25th. The auto parts company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.06). Lear had a return on equity of 28.11% and a net margin of 6.14%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.95 billion. As a group, equities research analysts forecast that Lear Co. will post 18.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, December 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.06%. Lear’s dividend payout ratio (DPR) is currently 16.47%.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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