Jupiter Asset Management Ltd. raised its stake in shares of Lear Co. (NYSE:LEA – Free Report) by 237.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,674 shares of the auto parts company’s stock after purchasing an additional 22,978 shares during the quarter. Jupiter Asset Management Ltd. owned 0.06% of Lear worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S lifted its holdings 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 worth $32,000 after acquiring an additional 87 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings 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 worth $40,000 after acquiring an additional 138 shares during the last quarter. Psagot Value Holdings Ltd. Israel bought a new stake in shares of Lear in the 1st quarter worth approximately $40,000. V Square Quantitative Management LLC bought a new stake in shares of Lear in the 2nd quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Lear by 21.4% in the first quarter. EverSource Wealth Advisors LLC now owns 516 shares of the auto parts company’s stock worth $72,000 after buying an additional 91 shares during the period. 97.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on LEA shares. Benchmark reaffirmed a “buy” rating and issued a $188.00 target price on shares of Lear in a research note on Monday, October 30th. UBS Group decreased their target price on shares of Lear from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 10th. Wells Fargo & Company decreased their target price on shares of Lear from $164.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 3rd. StockNews.com started coverage on shares of Lear in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Barclays decreased their target price on shares of Lear from $177.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.60.
Lear Stock Up 0.4 %
NYSE:LEA opened at $134.19 on Friday. The firm’s 50-day moving average price is $133.17 and its 200-day moving average price is $137.66. The company has a market capitalization of $7.82 billion, a PE ratio of 14.17, a P/E/G ratio of 0.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.36 and a quick ratio of 1.04. Lear Co. has a 1-year low of $117.79 and a 1-year high of $157.90.
Lear (NYSE:LEA – Get Free Report) last released its earnings results on Thursday, October 26th. The auto parts company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.26. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.62 billion. Lear had a net margin of 2.45% and a return on equity of 14.06%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. On average, equities analysts predict that Lear Co. will post 12.02 EPS for the current fiscal year.
Lear Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Wednesday, December 6th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, December 5th. Lear’s dividend payout ratio is presently 32.52%.
Lear Company 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.
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