Quest Partners LLC Trims Stake in Lear Co. (NYSE:LEA)

Quest Partners LLC lowered its stake in shares of Lear Co. (NYSE:LEA) by 15.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,682 shares of the auto parts company’s stock after selling 1,602 shares during the quarter. Quest Partners LLC’s holdings in Lear were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pzena Investment Management LLC increased its position in shares of Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock valued at $820,929,000 after buying an additional 946,109 shares during the period. Vanguard Group Inc. increased its position in shares of Lear by 1.9% during the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after buying an additional 109,746 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Lear by 9.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after purchasing an additional 238,964 shares during the period. Dimensional Fund Advisors LP grew its holdings in Lear by 36.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the period. Finally, Greenhaven Associates Inc. grew its holdings in Lear by 1.0% in the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after purchasing an additional 17,820 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LEA shares. Wolfe Research started coverage on shares of Lear in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley dropped their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company dropped their target price on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. TD Cowen dropped their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, 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 note on Monday, October 21st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.25.

Lear Trading Up 0.6 %

Shares of Lear stock opened at $93.54 on Thursday. The company’s fifty day simple moving average is $102.93 and its 200-day simple moving average is $113.10. The stock has a market capitalization of $5.08 billion, a PE ratio of 9.84, a P/E/G ratio of 0.53 and a beta of 1.46. Lear Co. has a 1-year low of $92.14 and a 1-year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.87 EPS. As a group, equities analysts anticipate that Lear Co. will post 12.19 earnings per share for the current year.

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.