Oppenheimer Asset Management Inc. Acquires 855 Shares of Lear Co. (NYSE:LEA)

Oppenheimer Asset Management Inc. increased its holdings in shares of Lear Co. (NYSE:LEA) by 21.5% in the second quarter, Holdings Channel.com reports. The fund owned 4,825 shares of the auto parts company’s stock after buying an additional 855 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lear were worth $551,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System lifted its position in shares of Lear by 0.5% during the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock worth $2,665,000 after purchasing an additional 100 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock valued at $555,000 after buying an additional 100 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock valued at $989,000 after buying an additional 124 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Lear by 6.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock worth $316,000 after acquiring an additional 137 shares in the last quarter. Finally, Wahed Invest LLC increased its position in shares of Lear by 14.0% during the first quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock worth $163,000 after acquiring an additional 138 shares during the period. Institutional investors own 97.04% of the company’s stock.

Analyst Ratings Changes

LEA has been the subject of a number of research reports. Evercore ISI lowered their price target on Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Citigroup cut their price target on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Barclays lowered their price objective on shares of Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. UBS Group dropped their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Six 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, the company presently has an average rating of “Moderate Buy” and an average price target of $149.70.

Lear Trading Down 1.8 %

NYSE LEA opened at $107.99 on Friday. Lear Co. has a 52 week low of $101.67 and a 52 week high of $147.11. The company has a 50 day moving average price of $114.13 and a 200 day moving average price of $124.22. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The firm has a market cap of $6.13 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.45.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm posted $3.33 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Lear Co. will post 12.79 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.85%. Lear’s payout ratio is 33.59%.

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.