Lear Co. (NYSE:LEA) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its holdings in Lear Co. (NYSE:LEA - Free Report) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,679 shares of the auto parts company's stock after buying an additional 7,483 shares during the period. Raymond James & Associates owned about 0.18% of Lear worth $11,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LEA. Pacer Advisors Inc. increased its position in shares of Lear by 11,753.3% during the second quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company's stock worth $116,126,000 after purchasing an additional 1,008,200 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company's stock worth $820,929,000 after purchasing an additional 946,109 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 504,091 shares in the last quarter. Point72 Asset Management L.P. increased its position in Lear by 115.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company's stock valued at $64,083,000 after acquiring an additional 300,667 shares during the period. Finally, 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 valued at $314,620,000 after acquiring an additional 238,964 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Trading Down 1.2 %

Shares of LEA stock traded down $1.23 on Tuesday, reaching $99.58. 491,668 shares of the stock were exchanged, compared to its average volume of 658,551. The stock has a market cap of $5.41 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 0.50 and a beta of 1.44. 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 firm has a 50 day moving average of $108.45 and a two-hundred day moving average of $116.95. Lear Co. has a 1-year low of $97.51 and a 1-year high of $147.11.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm had revenue of $5.58 billion during the quarter, compared to analysts' expectations of $5.52 billion. During the same period in the prior year, the company earned $2.87 EPS. The firm's revenue was down 3.4% on a year-over-year basis. On average, research analysts anticipate that Lear Co. will post 12.27 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were given a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 3.09%. Lear's payout ratio is currently 32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LEA shares. Bank of America dropped their price target on Lear from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on Lear from $114.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday. The Goldman Sachs Group decreased their price target on Lear from $144.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. Finally, Wolfe Research started coverage on Lear in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lear has a consensus rating of "Moderate Buy" and a consensus target price of $142.75.

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.