Credit Agricole S A purchased a new position in Lear Co. (NYSE:LEA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,128 shares of the auto parts company’s stock, valued at approximately $1,696,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Financial Services Inc bought a new stake in shares of Lear in the 2nd quarter valued at $271,000. Catalyst Capital Advisors LLC bought a new stake in shares of Lear in the 2nd quarter valued at $2,756,000. Psagot Investment House Ltd. increased its stake in shares of Lear by 3.8% in the 2nd quarter. Psagot Investment House Ltd. now owns 27,100 shares of the auto parts company’s stock valued at $5,035,000 after acquiring an additional 1,000 shares in the last quarter. Investec Asset Management PTY Ltd bought a new stake in shares of Lear in the 1st quarter valued at $1,687,000. Finally, Wright Investors Service Inc. increased its stake in shares of Lear by 65.9% in the 2nd quarter. Wright Investors Service Inc. now owns 6,815 shares of the auto parts company’s stock valued at $1,266,000 after acquiring an additional 2,706 shares in the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.
Shares of LEA stock opened at $166.76 on Thursday. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 9.81 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.35 and a quick ratio of 1.10. Lear Co. has a 12 month low of $142.01 and a 12 month high of $206.36.
Lear (NYSE:LEA) last posted its earnings results on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.99 by ($0.04). Lear had a return on equity of 28.84% and a net margin of 6.31%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the company earned $4.39 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. analysts forecast that Lear Co. will post 19.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Thursday, August 30th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 1.68%. Lear’s payout ratio is 16.47%.
Several research firms have recently weighed in on LEA. ValuEngine lowered shares of Lear from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $209.00 to $214.00 in a research note on Tuesday, July 31st. Citigroup lowered their price objective on shares of Lear from $243.00 to $234.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Robert W. Baird reiterated a “buy” rating and issued a $243.00 price objective on shares of Lear in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $205.67.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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