Quarry LP Purchases 728 Shares of Lear Co. (NYSE:LEA)

Quarry LP boosted its holdings in shares of Lear Co. (NYSE:LEA) by 299.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 971 shares of the auto parts company’s stock after purchasing an additional 728 shares during the period. Quarry LP’s holdings in Lear were worth $111,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LEA. Grimes & Company Inc. acquired a new stake in shares of Lear in the 1st quarter valued at $5,847,000. Alaska Permanent Fund Corp raised its holdings in Lear by 307.9% during the first quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock valued at $1,864,000 after buying an additional 9,714 shares in the last quarter. Swedbank AB acquired a new stake in shares of Lear in the first quarter worth about $1,984,000. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Lear during the 4th quarter valued at about $333,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Lear by 970.4% in the 4th quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock valued at $76,373,000 after acquiring an additional 490,324 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LEA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. Citigroup decreased their price objective on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Bank of America dropped their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased 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. Finally, Morgan Stanley dropped their price objective on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.91.

Lear Trading Down 1.0 %

Lear stock opened at $108.10 on Wednesday. Lear Co. has a 12 month low of $101.67 and a 12 month high of $147.11. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The business has a 50 day moving average price of $112.30 and a two-hundred day moving average price of $122.22. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business earned $3.33 earnings per share. Lear’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Lear Co. will post 12.66 EPS for the current year.

Lear Dividend Announcement

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