Lear Co. (NYSE:LEA) Position Raised by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in shares of Lear Co. (NYSE:LEA) by 11,753.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,016,778 shares of the auto parts company’s stock after acquiring an additional 1,008,200 shares during the quarter. Pacer Advisors Inc.’s holdings in Lear were worth $116,126,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in Lear in the 4th quarter worth about $79,611,000. Gladstone Institutional Advisory LLC acquired a new position in shares of Lear during the fourth quarter worth approximately $280,000. Coldstream Capital Management Inc. bought a new position in Lear in the 4th quarter worth approximately $221,000. Balentine LLC acquired a new stake in Lear in the 4th quarter valued at approximately $232,000. Finally, Corient Private Wealth LLC raised its stake in Lear by 13.4% during the 4th quarter. Corient Private Wealth LLC now owns 22,159 shares of the auto parts company’s stock valued at $3,129,000 after acquiring an additional 2,627 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Down 1.8 %

LEA stock opened at $107.99 on Friday. The firm has a market cap of $6.13 billion, a PE ratio of 11.78, a P/E/G ratio of 0.41 and a beta of 1.45. Lear Co. has a 12 month low of $101.67 and a 12 month high of $147.11. 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 simple moving average of $114.13 and a 200 day simple moving average of $124.22.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.75% and a net margin of 2.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.33 EPS. Equities research analysts forecast that Lear Co. will post 12.79 earnings per share for the current fiscal year.

Lear Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on LEA shares. Barclays decreased their price target on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Bank of America decreased their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Evercore ISI dropped their price target on shares of Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup lowered their price objective on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.70.

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.