AustralianSuper Pty Ltd Invests $6.28 Million in Lear Co. (NYSE:LEA)

AustralianSuper Pty Ltd purchased a new position in shares of Lear Co. (NYSE:LEA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 54,940 shares of the auto parts company's stock, valued at approximately $6,275,000. AustralianSuper Pty Ltd owned about 0.10% of Lear at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Signaturefd LLC boosted its position in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company's stock valued at $53,000 after buying an additional 91 shares during the last quarter. State of Michigan Retirement System boosted its position in Lear by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company's stock valued at $2,665,000 after buying an additional 100 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Lear by 2.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company's stock worth $555,000 after purchasing an additional 100 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company's stock worth $989,000 after purchasing an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Lear by 16.8% in the 1st quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company's stock worth $128,000 after purchasing an additional 127 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEA has been the topic of several recent research reports. StockNews.com upgraded Lear from a "hold" rating to a "buy" rating in a research report on Friday, July 26th. Wells Fargo & Company reduced their price target on Lear from $132.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Friday, July 26th. Evercore ISI reduced their price target on Lear from $155.00 to $145.00 and set an "in-line" rating on the stock in a research report on Monday, July 15th. Bank of America reduced their price target on Lear from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Lear from $179.00 to $166.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.56.

Lear Stock Down 0.6 %

Shares of NYSE:LEA traded down $0.68 during midday trading on Wednesday, reaching $115.78. The company had a trading volume of 271,573 shares, compared to its average volume of 642,440. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The business's 50 day moving average price is $115.72 and its 200 day moving average price is $127.13. The stock has a market cap of $6.57 billion, a PE ratio of 12.63, a P/E/G ratio of 0.36 and a beta of 1.47. Lear Co. has a 1-year low of $107.25 and a 1-year high of $147.57.

Lear (NYSE:LEA - Get Free Report) last released its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.26. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. Lear's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.33 earnings per share. Research analysts forecast that Lear Co. will post 13.13 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Wednesday, September 4th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Wednesday, September 4th. Lear's payout ratio is currently 33.59%.

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.