Headlands Technologies LLC Increases Stock Position in Lear Co. (NYSE:LEA)

Headlands Technologies LLC raised its position in shares of Lear Co. (NYSE:LEA) by 936.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,103 shares of the auto parts company’s stock after purchasing an additional 1,900 shares during the period. Headlands Technologies LLC’s holdings in Lear were worth $240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Michigan Retirement System lifted its position in Lear by 0.5% during 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 during the period. Daiwa Securities Group Inc. raised its position in shares of Lear by 2.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock worth $555,000 after purchasing an additional 100 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position 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 worth $989,000 after purchasing an additional 124 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Lear by 6.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock worth $316,000 after purchasing an additional 137 shares during the last quarter. Finally, Wahed Invest LLC raised its position in shares of Lear by 14.0% in the 1st quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock worth $163,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Trading Up 0.7 %

Lear stock opened at $104.78 on Friday. The business has a 50-day simple moving average of $114.78 and a two-hundred day simple moving average of $125.04. The company has a market cap of $5.95 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.41 and a beta of 1.45. Lear Co. has a 52-week low of $101.67 and a 52-week high of $147.11. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

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

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.94%. Lear’s dividend payout ratio is currently 33.59%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LEA shares. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Evercore ISI lowered their price target on Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. UBS Group lowered their price target on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $132.00 price objective on shares of Lear in a report on Tuesday. Finally, Barclays reduced their price objective on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Lear has a consensus rating of “Moderate Buy” and an average target price of $151.40.

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.