Daiwa Securities Group Inc. Boosts Holdings in Lear Co. (LEA)

Daiwa Securities Group Inc. boosted its position in shares of Lear Co. (NYSE:LEA) by 264.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,750 shares of the auto parts company’s stock after buying an additional 10,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Lear were worth $2,139,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LEA. Copeland Capital Management LLC grew its position in shares of Lear by 2.3% in the third quarter. Copeland Capital Management LLC now owns 24,367 shares of the auto parts company’s stock valued at $3,533,000 after purchasing an additional 559 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Lear in the third quarter valued at approximately $3,595,000. Synovus Financial Corp grew its position in shares of Lear by 22.7% in the third quarter. Synovus Financial Corp now owns 4,738 shares of the auto parts company’s stock valued at $685,000 after purchasing an additional 875 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Lear by 27.5% in the third quarter. Wedge Capital Management L L P NC now owns 109,482 shares of the auto parts company’s stock valued at $15,875,000 after purchasing an additional 23,628 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Lear by 1.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 360,050 shares of the auto parts company’s stock valued at $52,204,000 after purchasing an additional 3,928 shares in the last quarter. Institutional investors own 92.46% of the company’s stock.

LEA opened at $138.01 on Friday. Lear Co. has a one year low of $128.05 and a one year high of $206.36. The company has a market capitalization of $8.91 billion, a P/E ratio of 8.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.11 and a current ratio of 1.37.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.06). Lear had a return on equity of 28.11% and a net margin of 6.14%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.95 billion. As a group, analysts anticipate that Lear Co. will post 18.29 EPS for the current year.

A number of research analysts recently commented on the company. ValuEngine upgraded Lear from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Buckingham Research decreased their price objective on Lear from $150.00 to $145.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Barclays reiterated a “hold” rating and issued a $170.00 price objective on shares of Lear in a report on Wednesday, October 17th. Citigroup decreased their price objective on Lear from $234.00 to $214.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Finally, Goldman Sachs Group upgraded Lear from a “neutral” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $203.47.

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About Lear

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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