Nomura Asset Management Co. Ltd. Purchases 5,500 Shares of Lear Co. (NYSE:LEA)

Nomura Asset Management Co. Ltd. grew its holdings in shares of Lear Co. (NYSE:LEA - Free Report) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,068 shares of the auto parts company's stock after purchasing an additional 5,500 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.13% of Lear worth $7,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC boosted its position in Lear by 7.3% during the third quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company's stock worth $842,054,000 after purchasing an additional 526,763 shares during the period. Diamond Hill Capital Management Inc. increased its position in Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company's stock worth $314,620,000 after buying an additional 238,964 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company's stock worth $213,726,000 after buying an additional 504,091 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Lear by 13.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company's stock worth $187,046,000 after acquiring an additional 206,822 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Lear by 24.3% in the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company's stock valued at $137,975,000 after purchasing an additional 247,312 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays lowered shares of Lear from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Lear from $144.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. Bank of America lowered their price objective on Lear from $180.00 to $170.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Wolfe Research began coverage on Lear in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company dropped their price objective on Lear from $114.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $140.25.

Lear Price Performance

Shares of NYSE LEA traded down $1.37 during trading on Friday, reaching $98.38. The company had a trading volume of 740,169 shares, compared to its average volume of 667,720. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The stock has a market cap of $5.35 billion, a PE ratio of 10.34, a PEG ratio of 0.60 and a beta of 1.45. The business's 50 day moving average price is $100.22 and its 200-day moving average price is $109.93. Lear Co. has a 52 week low of $92.14 and a 52 week high of $147.11.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. The business 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 quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.87 earnings per share. Analysts expect that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.77 per share. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.13%. Lear's dividend payout ratio is 32.39%.

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.