Verition Fund Management LLC grew its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 295.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,967 shares of the auto parts company's stock after buying an additional 5,952 shares during the quarter. Verition Fund Management LLC's holdings in Lear were worth $870,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of LEA. Pzena Investment Management LLC grew its position in Lear by 7.3% during the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company's stock worth $842,054,000 after acquiring an additional 526,763 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Lear by 9.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company's stock worth $314,620,000 after purchasing an additional 238,964 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lear by 36.9% in 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 period. Massachusetts Financial Services Co. MA raised its holdings in Lear by 13.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company's stock valued at $187,046,000 after buying an additional 206,822 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Lear by 24.3% during 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 buying an additional 247,312 shares during the period. 97.04% of the stock is owned by institutional investors.
Lear Stock Up 0.1 %
Shares of NYSE LEA traded up $0.06 during trading on Tuesday, reaching $102.62. The company had a trading volume of 669,503 shares, compared to its average volume of 665,619. 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. The business's 50-day moving average is $100.49 and its 200 day moving average is $110.06. The stock has a market cap of $5.58 billion, a PE ratio of 10.79, a P/E/G ratio of 0.59 and a beta of 1.45.
Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 EPS. As a group, equities analysts forecast that Lear Co. will post 12.01 earnings per share for the current fiscal year.
Lear Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.00%. Lear's dividend payout ratio is 32.39%.
Analyst Ratings Changes
LEA has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Lear from $162.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, October 21st. StockNews.com downgraded shares of Lear from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. TD Cowen cut their target price on shares of Lear from $142.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Bank of America reduced their price target on shares of Lear from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Wolfe Research began coverage on Lear in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $140.25.
View Our Latest Stock Analysis on Lear
About Lear
(
Free Report)
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.
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