Polianta Ltd Acquires Shares of 7,300 Lear Co. (LEA)

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Polianta Ltd acquired a new position in Lear Co. (NYSE:LEA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,300 shares of the auto parts company’s stock, valued at approximately $1,058,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lourd Capital LLC purchased a new position in Lear during the third quarter valued at approximately $281,000. Daiwa SB Investments Ltd. lifted its holdings in Lear by 2,220.0% during the third quarter. Daiwa SB Investments Ltd. now owns 1,160 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 1,110 shares in the last quarter. Midas Management Corp lifted its holdings in Lear by 138.6% during the third quarter. Midas Management Corp now owns 16,700 shares of the auto parts company’s stock valued at $2,422,000 after purchasing an additional 9,700 shares in the last quarter. Cerebellum GP LLC purchased a new position in Lear during the third quarter valued at approximately $184,000. Finally, Fox Run Management L.L.C. purchased a new position in Lear during the third quarter valued at approximately $642,000. 91.36% of the stock is currently owned by institutional investors.

LEA has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Lear from $227.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, June 25th. They noted that the move was a valuation call. ValuEngine downgraded shares of Lear from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Longbow Research reaffirmed a “buy” rating and set a $225.00 price target on shares of Lear in a report on Thursday, July 26th. JPMorgan Chase & Co. lowered their price target on shares of Lear from $209.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. Finally, Citigroup lowered their price target on shares of Lear from $243.00 to $234.00 and set a “buy” rating on the stock in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $206.19.

Lear stock opened at $133.74 on Tuesday. The company has a market cap of $9.50 billion, a PE ratio of 7.87 and a beta of 1.34. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. Lear Co. has a 1 year low of $132.35 and a 1 year high of $206.36.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.04). The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. Lear had a net margin of 6.31% and a return on equity of 28.84%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.39 EPS. As a group, analysts anticipate that Lear Co. will post 18.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Thursday, August 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 29th. Lear’s payout ratio is currently 16.47%.

Lear Profile

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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