Quantinno Capital Management LP Boosts Position in Lear Co. (NYSE:LEA)

Quantinno Capital Management LP grew its position in Lear Co. (NYSE:LEA) by 101.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,068 shares of the auto parts company’s stock after buying an additional 2,044 shares during the quarter. Quantinno Capital Management LP’s holdings in Lear were worth $444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in Lear in the 2nd quarter valued at about $530,000. Intech Investment Management LLC acquired a new stake in shares of Lear in the third quarter valued at approximately $1,946,000. Dimensional Fund Advisors LP increased its stake in shares of Lear by 36.9% during the 2nd 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 in the last quarter. Victory Capital Management Inc. raised its position in shares of Lear by 39.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after purchasing an additional 6,055 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Lear by 30.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 9,385 shares of the auto parts company’s stock valued at $1,024,000 after buying an additional 2,207 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Price Performance

LEA stock opened at $98.35 on Friday. The company has a market cap of $5.34 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.45. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $100.03 and a two-hundred day moving average price of $109.63. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11.

Lear (NYSE:LEA) last issued its earnings results 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. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business earned $2.87 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, research analysts predict that Lear Co. will post 12.01 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Wednesday, December 11th. Lear’s dividend payout ratio is presently 32.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LEA shares. Morgan Stanley cut their price target on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America lowered their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $140.25.

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.