Perennial Advisors LLC Has $1.59 Million Stake in Lear Co. (LEA)

Perennial Advisors LLC raised its holdings in shares of Lear Co. (NYSE:LEA) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,677 shares of the auto parts company’s stock after purchasing an additional 811 shares during the quarter. Perennial Advisors LLC’s holdings in Lear were worth $1,585,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in shares of Lear by 25.1% in the 4th quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Lear by 17.3% in the 4th quarter. Citigroup Inc. now owns 177,365 shares of the auto parts company’s stock worth $21,792,000 after buying an additional 26,155 shares during the last quarter. Actinver Wealth Management Inc. purchased a new position in shares of Lear in the 4th quarter worth about $242,000. Hudson Capital Management LLC boosted its holdings in shares of Lear by 19.8% in the 4th quarter. Hudson Capital Management LLC now owns 9,108 shares of the auto parts company’s stock worth $1,119,000 after buying an additional 1,508 shares during the last quarter. Finally, IMS Capital Management purchased a new position in shares of Lear in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 89.56% of the company’s stock.

A number of equities research analysts recently issued reports on LEA shares. ValuEngine cut Lear from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research cut Lear from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Morgan Stanley lowered their price objective on Lear from $185.00 to $181.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Longbow Research restated a “buy” rating and issued a $190.00 price objective on shares of Lear in a research note on Wednesday, May 1st. Finally, KeyCorp lowered their price objective on Lear from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $175.07.

LEA traded down $0.19 during midday trading on Friday, hitting $125.85. The stock had a trading volume of 724,300 shares, compared to its average volume of 699,016. The firm has a market cap of $7.91 billion, a P/E ratio of 6.91, a P/E/G ratio of 2.98 and a beta of 1.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.10. Lear Co. has a 1 year low of $114.45 and a 1 year high of $206.36.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Lear had a net margin of 4.94% and a return on equity of 25.28%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the company posted $5.10 EPS. On average, equities analysts anticipate that Lear Co. will post 17.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, June 6th. Lear’s dividend payout ratio (DPR) is presently 16.47%.

Lear announced that its board has authorized a share repurchase plan on Thursday, February 7th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 15.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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