XTX Topco Ltd Buys Shares of 2,600 Lear Co. (NYSE:LEA)

XTX Topco Ltd acquired a new position in Lear Co. (NYSE:LEA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,600 shares of the auto parts company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEA. Altshuler Shaham Ltd purchased a new stake in shares of Lear in the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Lear during the 3rd quarter valued at about $34,000. Blue Trust Inc. boosted its holdings in shares of Lear by 240.4% during the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 214 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LEA shares. TD Cowen lowered their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group decreased their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wolfe Research assumed coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lear has a consensus rating of “Hold” and an average target price of $139.67.

Lear Price Performance

NYSE LEA opened at $94.75 on Wednesday. The firm’s fifty day simple moving average is $99.62 and its two-hundred day simple moving average is $109.13. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11. The firm has a market capitalization of $5.15 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.60 and a beta of 1.45.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $2.87 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts forecast that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is presently 32.39%.

Lear Company 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.