Harbor Capital Advisors Inc. Acquires Shares of 29,373 Lear Co. (NYSE:LEA)

Harbor Capital Advisors Inc. bought a new position in shares of Lear Co. (NYSE:LEA) during the fourth quarter, Holdings Channel.com reports. The firm bought 29,373 shares of the auto parts company’s stock, valued at approximately $2,782,000.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after buying an additional 110 shares during the period. Quarry LP boosted its stake in Lear by 13.8% in the 3rd quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 134 shares during the period. Signaturefd LLC increased its holdings in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after purchasing an additional 143 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in shares of Lear by 1.0% in the second quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock valued at $1,866,000 after purchasing an additional 155 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Price Performance

Shares of NYSE LEA opened at $90.93 on Friday. 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 business’s 50 day moving average price is $96.40 and its two-hundred day moving average price is $106.02. The company has a market cap of $4.94 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. Lear Co. has a twelve month low of $90.42 and a twelve month high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a return on equity of 14.68% and a net margin of 2.33%. 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 firm earned $2.87 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. On average, analysts predict that Lear Co. will post 12.01 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.39%. Lear’s dividend payout ratio is currently 32.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LEA. Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Morgan Stanley reduced their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. TD Cowen lowered their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Bank of America reduced 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.18.

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.