Royal London Asset Management Ltd. lifted its stake in Lear Co. (NYSE:LEA) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,613 shares of the auto parts company’s stock after buying an additional 19,638 shares during the period. Royal London Asset Management Ltd. owned approximately 0.31% of Lear worth $27,327,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Lear by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,040,569 shares of the auto parts company’s stock valued at $127,843,000 after buying an additional 27,314 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Lear in the 1st quarter valued at about $866,000. Meeder Asset Management Inc. grew its holdings in Lear by 23.5% in the 1st quarter. Meeder Asset Management Inc. now owns 13,869 shares of the auto parts company’s stock valued at $1,882,000 after buying an additional 2,640 shares during the period. Northpointe Capital LLC grew its holdings in Lear by 7.2% in the 1st quarter. Northpointe Capital LLC now owns 15,280 shares of the auto parts company’s stock valued at $2,074,000 after buying an additional 1,024 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Lear by 96.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,422 shares of the auto parts company’s stock valued at $1,279,000 after buying an additional 4,622 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.
Several analysts have commented on the company. UBS Group lowered their price target on Lear from $172.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Citigroup lowered their price target on Lear from $144.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. ValuEngine cut Lear from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 17th. Barclays restated a “hold” rating and issued a $117.00 price target on shares of Lear in a report on Wednesday, July 31st. Finally, Longbow Research reiterated a “buy” rating and set a $190.00 target price on shares of Lear in a report on Sunday, June 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Lear currently has an average rating of “Hold” and a consensus price target of $158.60.
Shares of NYSE:LEA traded up $2.30 during trading on Tuesday, reaching $114.26. 6,532 shares of the stock were exchanged, compared to its average volume of 718,602. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.34. Lear Co. has a 12-month low of $111.33 and a 12-month high of $176.05. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 3.01 and a beta of 1.49. The company has a 50-day moving average price of $130.06.
Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 EPS for the quarter, missing the consensus estimate of $3.82 by ($0.04). The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the firm posted $4.95 earnings per share. On average, analysts expect that Lear Co. will post 15.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Thursday, August 29th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.63%. The ex-dividend date is Wednesday, August 28th. Lear’s dividend payout ratio (DPR) is presently 16.47%.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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