Franklin Resources Inc. lifted its stake in Lear Co. (NYSE:LEA - Free Report) by 18.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,829 shares of the auto parts company's stock after acquiring an additional 30,529 shares during the quarter. Franklin Resources Inc. owned 0.36% of Lear worth $21,015,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in shares of Lear during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $32,000 after acquiring an additional 110 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Lear during the 3rd quarter valued at $34,000. Blue Trust Inc. raised its holdings in Lear by 240.4% in the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock worth $35,000 after purchasing an additional 214 shares during the period. Finally, Signaturefd LLC grew its holdings in Lear by 71.6% during 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 period. 97.04% of the stock is owned by hedge funds and other institutional investors.
Lear Price Performance
Shares of NYSE LEA traded up $1.59 during mid-day trading on Friday, hitting $94.78. 3,219,016 shares of the company's stock traded hands, compared to its average volume of 681,193. The company has a market capitalization of $5.15 billion, a P/E ratio of 9.97, a PEG ratio of 0.60 and a beta of 1.45. Lear Co. has a 1 year low of $91.70 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The company's 50-day moving average is $99.13 and its two-hundred day moving average is $108.91.
Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.87 earnings per share. On average, equities analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.
Lear Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, December 11th. Lear's dividend payout ratio is currently 32.39%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on LEA shares. JPMorgan Chase & Co. decreased their target price on shares of Lear from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. The Goldman Sachs Group dropped their target price on shares of Lear from $144.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Wolfe Research initiated coverage on Lear in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Morgan Stanley dropped their price objective on Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.67.
Read Our Latest Analysis on LEA
About Lear
(
Free Report)
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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