Impact Partnership Wealth LLC Makes New $260,000 Investment in Lear Co. (NYSE:LEA)

Impact Partnership Wealth LLC bought a new position in Lear Co. (NYSE:LEA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,382 shares of the auto parts company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC increased its holdings 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 acquiring an additional 946,109 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 acquiring an additional 109,746 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Lear by 9.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock valued at $314,620,000 after acquiring an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after acquiring an additional 504,091 shares in the last quarter. Finally, Greenhaven Associates Inc. increased its holdings in shares of Lear by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after acquiring an additional 17,820 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Down 6.5 %

LEA stock opened at $98.17 on Friday. The stock’s fifty day simple moving average is $109.30 and its two-hundred day simple moving average is $118.06. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. Lear Co. has a 1-year low of $97.51 and a 1-year high of $147.11. The stock has a market cap of $5.57 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.33 EPS. Analysts expect that Lear Co. will post 12.49 EPS for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 annualized dividend and a dividend yield of 3.14%. Lear’s payout ratio is 33.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America decreased their price objective on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup cut their target price on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Evercore ISI cut their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. Finally, StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.09.

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.