Assetmark Inc. Buys 3,678 Shares of Lear Co. (NYSE:LEA)

Assetmark Inc. increased its stake in Lear Co. (NYSE:LEA) by 73.2% during the 3rd quarter, Holdings Channel reports. The firm owned 8,701 shares of the auto parts company’s stock after purchasing an additional 3,678 shares during the quarter. Assetmark Inc.’s holdings in Lear were worth $950,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Lear in the second quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in shares of Lear in the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew 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 worth $32,000 after purchasing an additional 110 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 214 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price target on Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. The Goldman Sachs Group dropped their price target on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, Bank of America dropped their price target on 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 seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.25.

Lear Price Performance

Shares of NYSE:LEA opened at $95.59 on Friday. Lear Co. has a 1-year low of $94.29 and a 1-year high of $147.11. The business has a fifty day moving average price of $103.66 and a 200-day moving average price of $113.86. The company has a market capitalization of $5.19 billion, a PE ratio of 10.05, a PEG ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

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

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.