Neo Ivy Capital Management Purchases New Stake in Lear Co. (NYSE:LEA)

Neo Ivy Capital Management acquired a new position in shares of Lear Co. (NYSE:LEA - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,274 shares of the auto parts company's stock, valued at approximately $1,886,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 110 shares during the period. Quarry LP lifted its position in shares of 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 during the last quarter. Signaturefd LLC lifted its position in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock worth $36,000 after purchasing an additional 139 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Lear by 4.2% during the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company's stock worth $385,000 after purchasing an additional 143 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Lear by 1.0% during the second quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company's stock worth $1,866,000 after purchasing an additional 155 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Performance

Shares of LEA traded down $0.79 during trading hours on Wednesday, hitting $101.06. The company had a trading volume of 426,412 shares, compared to its average volume of 664,571. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.59 and a beta of 1.45. The business has a fifty day moving average of $100.49 and a 200-day moving average of $110.06. Lear Co. has a 12 month low of $92.14 and a 12 month high of $147.11. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company posted $2.87 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 annualized dividend and a dividend yield of 3.05%. Lear's dividend payout ratio is currently 32.39%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LEA shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Morgan Stanley dropped their price target on shares of Lear from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $162.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Bank of America decreased their price objective on shares of Lear from $180.00 to $170.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, The Goldman Sachs Group decreased their price objective 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. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $140.25.

About Lear

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.