Neo Ivy Capital Management Acquires Shares of 17,274 Lear Co. (NYSE:LEA)

Neo Ivy Capital Management bought a new stake in Lear Co. (NYSE:LEA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,274 shares of the auto parts company’s stock, valued at approximately $1,886,000.

Other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Lear in the second quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in shares of Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lear in the third quarter valued at about $34,000. Blue Trust Inc. grew its position in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 214 shares during the period. Finally, Signaturefd LLC grew its position in shares of Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. StockNews.com lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley lowered their price target on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. TD Cowen lowered their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Bank of America lowered 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Lear currently has an average rating of “Hold” and an average price target of $140.25.

Lear Stock Performance

NYSE:LEA opened at $102.62 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.59 and a beta of 1.45. The company’s 50-day moving average is $100.49 and its two-hundred day moving average is $110.06. Lear Co. has a 1-year low of $92.14 and a 1-year high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share 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 analyst estimates of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.87 EPS. Analysts forecast that Lear Co. will post 12.01 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is 32.39%.

About Lear

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.