KAMES CAPITAL plc cut its holdings in shares of Lear Co. (NYSE:LEA) by 35.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,921 shares of the auto parts company’s stock after selling 5,372 shares during the quarter. KAMES CAPITAL plc’s holdings in Lear were worth $1,439,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fort L.P. bought a new stake in Lear during the 2nd quarter worth about $113,000. Townsend & Associates Inc bought a new stake in Lear during the 2nd quarter worth about $113,000. Squar Milner Financial Services LLC bought a new stake in Lear during the 2nd quarter worth about $130,000. Signet Financial Management LLC bought a new stake in Lear during the 2nd quarter worth about $131,000. Finally, Atlantic Trust Group LLC lifted its position in Lear by 137.6% during the 1st quarter. Atlantic Trust Group LLC now owns 815 shares of the auto parts company’s stock worth $152,000 after buying an additional 472 shares in the last quarter. 91.36% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on LEA. Longbow Research restated a “buy” rating and set a $225.00 price objective on shares of Lear in a research note on Thursday, July 26th. Robert W. Baird boosted their price objective on shares of Lear from $227.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, June 25th. They noted that the move was a valuation call. Wolfe Research began coverage on shares of Lear in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. ValuEngine lowered shares of Lear from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Finally, Citigroup lowered their price objective on shares of Lear from $243.00 to $234.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Lear has a consensus rating of “Buy” and an average price target of $206.06.
Shares of LEA opened at $134.23 on Friday. Lear Co. has a 52 week low of $132.35 and a 52 week high of $206.36. The stock has a market capitalization of $9.50 billion, a P/E ratio of 7.90 and a beta of 1.34. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44.
Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, July 26th. The auto parts company reported $4.95 EPS for the quarter, missing the Zacks’ consensus estimate of $4.99 by ($0.04). Lear had a net margin of 6.31% and a return on equity of 28.84%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the company posted $4.39 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts expect that Lear Co. will post 18.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Thursday, August 30th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.09%. Lear’s dividend payout ratio (DPR) is currently 16.47%.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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