FormulaFolio Investments LLC bought a new stake in Lear Co. (NYSE:LEA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,215 shares of the auto parts company’s stock, valued at approximately $301,000.
Several other large investors have also recently modified their holdings of LEA. Norges Bank bought a new position in Lear during the fourth quarter worth $653,026,000. Oregon Public Employees Retirement Fund boosted its stake in Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 4,854,451 shares in the last quarter. Harris Associates L P boosted its stake in Lear by 65.9% during the fourth quarter. Harris Associates L P now owns 3,424,807 shares of the auto parts company’s stock worth $420,772,000 after acquiring an additional 1,360,164 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Lear by 140.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,841,520 shares of the auto parts company’s stock worth $349,110,000 after acquiring an additional 1,659,488 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new position in Lear during the fourth quarter worth $339,861,000. Institutional investors own 89.37% of the company’s stock.
NYSE LEA traded down $2.20 during trading hours on Friday, reaching $133.70. 389,467 shares of the company were exchanged, compared to its average volume of 693,660. Lear Co. has a 1 year low of $114.45 and a 1 year high of $203.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.34. The company has a market capitalization of $8.46 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.41.
Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 earnings per share (EPS) 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 return on equity of 25.28% and a net margin of 4.94%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted $5.10 EPS. As a group, analysts forecast that Lear Co. will post 17.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.24%. Lear’s dividend payout ratio is presently 16.47%.
Several research analysts have weighed in on LEA shares. ValuEngine downgraded shares of Lear from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Longbow Research restated a “buy” rating and set a $190.00 price objective on shares of Lear in a report on Wednesday, March 6th. Deutsche Bank downgraded shares of Lear from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $162.00 to $159.00 in a report on Tuesday, March 19th. Argus started coverage on shares of Lear in a report on Thursday, March 28th. They issued a “hold” rating for the company. Finally, Morgan Stanley lowered their target price on shares of Lear from $185.00 to $181.00 and set an “overweight” rating for the company in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Lear presently has an average rating of “Buy” and an average target price of $175.07.
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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