Lear Co. (NYSE:LEA) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Lear Co. (NYSE:LEA) by 24.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,098 shares of the auto parts company’s stock after buying an additional 13,097 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Lear were worth $7,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock valued at $989,000 after purchasing an additional 124 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Lear by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,101 shares of the auto parts company’s stock valued at $304,000 after buying an additional 273 shares in the last quarter. State of Michigan Retirement System boosted its position in Lear by 0.5% in the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after buying an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Lear by 6.5% during the first quarter. Commonwealth Equity Services LLC now owns 3,842 shares of the auto parts company’s stock worth $557,000 after purchasing an additional 234 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Lear by 172.7% during the first quarter. Van ECK Associates Corp now owns 29,354 shares of the auto parts company’s stock worth $4,253,000 after purchasing an additional 18,591 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LEA shares. The Goldman Sachs Group cut their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Bank of America lowered their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup lowered their price objective on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. Finally, TD Cowen cut their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $141.08.

Lear Stock Performance

LEA opened at $97.82 on Thursday. The company’s fifty day moving average price is $108.10 and its two-hundred day moving average price is $116.82. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.50 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. Lear Co. has a 1-year low of $97.26 and a 1-year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.87 earnings per share. On average, analysts expect that Lear Co. will post 12.27 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were given a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.15%. Lear’s dividend payout ratio (DPR) is currently 32.39%.

Lear 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.