Versor Investments LP Buys Shares of 4,421 Lear Co. (NYSE:LEA)

Versor Investments LP purchased a new position in Lear Co. (NYSE:LEA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,421 shares of the auto parts company’s stock, valued at approximately $483,000.

A number of other hedge funds have also recently made changes to their positions in LEA. Swedbank AB bought a new position in Lear in the first quarter worth about $1,984,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Lear by 35.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock valued at $7,953,000 after acquiring an additional 14,305 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Lear in the second quarter valued at approximately $530,000. Shell Asset Management Co. increased its position in shares of Lear by 73.6% during the first quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock worth $1,703,000 after purchasing an additional 4,984 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Lear by 4.2% during the 1st quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock valued at $148,216,000 after purchasing an additional 41,496 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Lear Stock Down 2.6 %

Shares of NYSE:LEA opened at $96.01 on Friday. Lear Co. has a 52-week low of $94.29 and a 52-week high of $147.11. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $103.95 and a two-hundred day moving average of $114.15.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.87 EPS. As a group, analysts forecast that Lear Co. will post 12.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LEA shares. The Goldman Sachs Group reduced their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their target price 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. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America decreased their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 target price on shares of Lear in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Lear has an average rating of “Moderate Buy” and a consensus price target of $140.25.

About Lear

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.