Advisors Asset Management Inc. Grows Stake in Lear Co. (NYSE:LEA)

Advisors Asset Management Inc. lifted its position in Lear Co. (NYSE:LEA) by 44.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,570 shares of the auto parts company’s stock after buying an additional 1,396 shares during the period. Advisors Asset Management Inc.’s holdings in Lear were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Wahed Invest LLC raised its holdings in 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 period. Signaturefd LLC raised its holdings in Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares during the period. Systematic Financial Management LP raised its holdings in Lear by 1.0% in the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock worth $1,866,000 after purchasing an additional 155 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Lear by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock worth $251,000 after purchasing an additional 184 shares during the period. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEA has been the topic of a number of recent research reports. Bank of America decreased their target price on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group decreased their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Finally, Morgan Stanley decreased their price target on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $140.25.

Lear Trading Up 0.5 %

Shares of Lear stock opened at $97.25 on Thursday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.60 and a beta of 1.46. The business has a 50-day moving average price of $102.37 and a 200-day moving average price of $112.12. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. Lear Co. has a twelve month low of $92.14 and a twelve month high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.87 earnings per share. Equities research analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be given a $0.77 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.17%. Lear’s dividend payout ratio 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.