Seven Eight Capital LP Invests $530,000 in Lear Co. (NYSE:LEA)

Seven Eight Capital LP purchased a new position in shares of Lear Co. (NYSE:LEA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,639 shares of the auto parts company’s stock, valued at approximately $530,000.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Lear during the fourth quarter worth $79,611,000. Grimes & Company Inc. bought a new position in Lear during the first quarter worth $5,847,000. Campbell & CO Investment Adviser LLC raised its stake in Lear by 56.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock worth $2,842,000 after buying an additional 7,242 shares during the last quarter. Alaska Permanent Fund Corp raised its stake in Lear by 307.9% during the first quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock worth $1,864,000 after buying an additional 9,714 shares during the last quarter. Finally, Swedbank AB bought a new position in Lear during the first quarter worth $1,984,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

LEA has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Wells Fargo & Company decreased their price target on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup decreased their price target on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Wolfe Research assumed coverage on shares of Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.70.

Lear Trading Down 1.8 %

NYSE:LEA opened at $108.02 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The firm has a 50-day moving average of $113.91 and a 200-day moving average of $124.01. The company has a market cap of $6.13 billion, a PE ratio of 11.78, a PEG ratio of 0.41 and a beta of 1.45. Lear Co. has a one year low of $101.67 and a one year high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.34 by $0.26. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.33 earnings per share. As a group, equities research analysts expect that Lear Co. will post 12.79 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Wednesday, September 4th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

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.