Lear Co. (NYSE:LEA) Stock Position Raised by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd boosted its holdings in Lear Co. (NYSE:LEA) by 22.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,542 shares of the auto parts company’s stock after acquiring an additional 1,942 shares during the period. Point72 Hong Kong Ltd’s holdings in Lear were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LEA. Altshuler Shaham Ltd bought a new stake in shares of Lear in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% in the second 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 period. Brooklyn Investment Group bought a new stake in Lear in the third quarter valued at $34,000. Blue Trust Inc. boosted its holdings in shares of Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 214 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 139 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $140.00 to $120.00 in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on Lear in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America cut their target price on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley decreased their price target on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.25.

Lear Stock Up 0.6 %

LEA stock opened at $97.84 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The firm has a market cap of $5.32 billion, a PE ratio of 10.29, a P/E/G ratio of 0.58 and a beta of 1.46. Lear Co. has a 12 month low of $92.14 and a 12 month high of $147.11. The firm has a 50 day simple moving average of $101.71 and a 200 day simple moving average of $111.53.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.32. The business 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 company’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.87 EPS. Equities research analysts forecast that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.15%. Lear’s payout ratio is presently 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.