Geode Capital Management LLC Grows Stake in Lear Co. (NYSE:LEA)

Geode Capital Management LLC lifted its holdings in Lear Co. (NYSE:LEA - Free Report) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,141,476 shares of the auto parts company's stock after buying an additional 44,128 shares during the quarter. Geode Capital Management LLC owned 2.10% of Lear worth $124,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in shares of Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 110 shares during the period. Quarry LP boosted its position in Lear by 13.8% during the third quarter. Quarry LP now owns 1,105 shares of the auto parts company's stock worth $121,000 after purchasing an additional 134 shares in the last quarter. Signaturefd LLC grew its holdings in Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock valued at $36,000 after purchasing an additional 139 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Lear by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock worth $385,000 after buying an additional 143 shares during the last quarter. Finally, Systematic Financial Management LP grew its stake in Lear by 1.0% in the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company's stock valued at $1,866,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Trading Down 1.8 %

Shares of LEA traded down $1.70 during mid-day trading on Wednesday, reaching $93.01. The company had a trading volume of 888,326 shares, compared to its average volume of 669,866. Lear Co. has a fifty-two week low of $92.14 and a fifty-two week high of $147.11. The firm has a fifty day simple moving average of $99.62 and a 200-day simple moving average of $109.13. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA - Get Free Report) last issued its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to analysts' expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.87 earnings per share. On average, sell-side analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.31%. Lear's payout ratio is 32.39%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays downgraded shares of Lear from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $140.00 to $120.00 in a report on Wednesday, October 30th. Wolfe Research started coverage on Lear in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Morgan Stanley dropped their price target on Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Lear from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group dropped their price objective on Lear from $144.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $139.67.

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.