Stevens Capital Management LP Takes $2.57 Million Position in Lear Co. (LEA)

Stevens Capital Management LP acquired a new position in shares of Lear Co. (NYSE:LEA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,725 shares of the auto parts company’s stock, valued at approximately $2,570,000.

Several other institutional investors have also bought and sold shares of LEA. Massachusetts Financial Services Co. MA boosted its stake in shares of Lear by 61.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,182,032 shares of the auto parts company’s stock worth $171,394,000 after buying an additional 450,389 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Lear by 65.8% during the 2nd quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock worth $171,785,000 after buying an additional 366,915 shares during the last quarter. Boston Partners boosted its stake in shares of Lear by 36.6% during the 2nd quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock worth $254,274,000 after buying an additional 366,768 shares during the last quarter. FMR LLC boosted its stake in shares of Lear by 23.3% during the 2nd quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock worth $297,203,000 after buying an additional 302,664 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its stake in shares of Lear by 391.7% during the 2nd quarter. Nomura Holdings Inc. now owns 179,482 shares of the auto parts company’s stock worth $33,349,000 after buying an additional 241,015 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

LEA has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Lear in a research note on Tuesday, October 2nd. They set an “outperform” rating for the company. Buckingham Research set a $150.00 price objective on shares of Lear and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Goldman Sachs Group upgraded shares of Lear from a “neutral” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Thursday, October 11th. Barclays restated a “hold” rating and set a $170.00 price objective on shares of Lear in a research note on Wednesday, October 17th. Finally, Zacks Investment Research upgraded shares of Lear from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $201.60.

Shares of NYSE:LEA opened at $136.25 on Monday. Lear Co. has a 52-week low of $128.05 and a 52-week high of $206.36. The stock has a market capitalization of $8.74 billion, a P/E ratio of 8.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 1.11.

Lear (NYSE:LEA) last issued its earnings results on Thursday, October 25th. The auto parts company reported $4.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.15 by ($0.06). Lear had a net margin of 6.14% and a return on equity of 28.11%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.95 billion. On average, sell-side analysts expect that Lear Co. will post 18.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.80 annualized dividend and a yield of 2.06%. Lear’s dividend payout ratio (DPR) is currently 16.47%.

In related news, Director Richard Harold Bott sold 789 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $135.13, for a total value of $106,617.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.43% of the company’s stock.

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About Lear

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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