Readystate Asset Management LP Boosts Stock Position in Lear Co. (NYSE:LEA)

Readystate Asset Management LP raised its holdings in shares of Lear Co. (NYSE:LEA) by 81.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,591 shares of the auto parts company’s stock after acquiring an additional 2,957 shares during the quarter. Readystate Asset Management LP’s holdings in Lear were worth $719,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LEA. Pacer Advisors Inc. boosted its stake in Lear by 11,753.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock valued at $116,126,000 after purchasing an additional 1,008,200 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of Lear by 15.2% in the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after buying an additional 946,109 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lear by 36.9% in the 2nd 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 last quarter. Point72 Asset Management L.P. boosted its stake in shares of 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 worth $64,083,000 after buying an additional 300,667 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of 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 worth $314,620,000 after buying an additional 238,964 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEA has been the topic of several analyst reports. Wolfe Research assumed coverage on Lear in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Morgan Stanley decreased their price target on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company decreased their price target on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Finally, Bank of America decreased their price target on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $140.25.

Lear Trading Down 0.9 %

Shares of LEA stock opened at $100.10 on Friday. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $101.20 and its 200-day moving average price is $110.88. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.59 and a beta of 1.45.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.87 earnings per share. Equities research analysts predict that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.08%. Lear’s dividend payout ratio is currently 32.39%.

Lear Company Profile

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.