Dimensional Fund Advisors LP Cuts Stake in Lear Co. (NYSE:LEA)

Dimensional Fund Advisors LP decreased its holdings in Lear Co. (NYSE:LEA) by 0.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,290,318 shares of the auto parts company’s stock after selling 4,067 shares during the period. Dimensional Fund Advisors LP owned approximately 2.20% of Lear worth $185,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LEA. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Lear by 65.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 220 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 87 shares in the last quarter. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Lear in the 1st quarter valued at $40,000. Belpointe Asset Management LLC boosted its stake in shares of Lear by 90.8% in the 1st quarter. Belpointe Asset Management LLC now owns 290 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lear in the 2nd quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Lear by 21.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 516 shares of the auto parts company’s stock valued at $72,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Trading Up 0.4 %

NYSE:LEA opened at $134.21 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $133.17 and a 200-day moving average price of $137.57. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.35 and a beta of 1.60. Lear Co. has a 12 month low of $117.79 and a 12 month high of $157.90.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, October 26th. The auto parts company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.26. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.62 billion. Lear had a net margin of 2.45% and a return on equity of 14.06%. Lear’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.33 EPS. Equities analysts predict that Lear Co. will post 12.02 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Wednesday, December 6th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $3.08 annualized dividend and a dividend yield of 2.29%. Lear’s payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LEA shares. Benchmark reissued a “buy” rating and set a $188.00 price target on shares of Lear in a research report on Monday, October 30th. Argus increased their price target on shares of Lear from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Barclays dropped their price target on shares of Lear from $177.00 to $175.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. StockNews.com started coverage on shares of Lear in a research report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Citigroup dropped their price target on shares of Lear from $158.00 to $152.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lear has a consensus rating of “Moderate Buy” and a consensus target price of $161.60.

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 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.