Edgestream Partners L.P. Invests $4.36 Million in Lear Co. (NYSE:LEA)

Edgestream Partners L.P. acquired a new position in Lear Co. (NYSE:LEA - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 38,136 shares of the auto parts company's stock, valued at approximately $4,356,000. Edgestream Partners L.P. owned 0.07% of Lear as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Lear in the first quarter worth $29,000. Riverview Trust Co bought a new stake in Lear in the 1st quarter valued at approximately $32,000. Central Pacific Bank Trust Division acquired a new stake in shares of Lear during the 1st quarter worth $62,000. Kapitalo Investimentos Ltda bought a new stake in shares of Lear during the 4th quarter worth $75,000. Finally, V Square Quantitative Management LLC raised its position in shares of Lear by 72.1% during the fourth quarter. V Square Quantitative Management LLC now owns 654 shares of the auto parts company's stock worth $92,000 after acquiring an additional 274 shares during the last quarter. Institutional investors own 97.04% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on LEA shares. StockNews.com upgraded Lear from a "hold" rating to a "buy" rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. UBS Group cut their price objective on shares of Lear from $136.00 to $128.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley cut their price objective on shares of Lear from $160.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 14th. Finally, Bank of America dropped their price target on shares of Lear from $205.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Lear has an average rating of "Moderate Buy" and an average price target of $151.40.

Lear Stock Performance

NYSE LEA traded down $0.15 during trading hours on Wednesday, reaching $107.22. The stock had a trading volume of 469,842 shares, compared to its average volume of 640,262. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear Co. has a 52-week low of $101.67 and a 52-week high of $147.11. The stock has a fifty day moving average of $114.45 and a 200 day moving average of $124.44. The stock has a market cap of $6.09 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.41 and a beta of 1.45.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.26. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.33 EPS. Sell-side analysts predict that Lear Co. will post 12.79 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.87%. Lear's dividend payout ratio (DPR) is 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.