Janney Montgomery Scott LLC Boosts Stock Position in Lear Co. (NYSE:LEA)

Janney Montgomery Scott LLC increased its position in shares of Lear Co. (NYSE:LEA) by 30.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,385 shares of the auto parts company’s stock after purchasing an additional 2,207 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lear were worth $1,024,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LEA. EverSource Wealth Advisors LLC increased its position in shares of Lear by 70.5% during 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 in the last quarter. Wahed Invest LLC lifted its stake in Lear by 14.0% during the 1st 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 in the last quarter. Signaturefd LLC lifted its stake 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 acquiring an additional 139 shares in the last quarter. Systematic Financial Management LP raised its position in Lear by 1.0% in the 2nd 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. Finally, Allspring Global Investments Holdings LLC raised its position in Lear by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock valued at $251,000 after purchasing an additional 184 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LEA shares. The Goldman Sachs Group dropped their price objective on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Wolfe Research began coverage on Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, TD Cowen dropped their price objective on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Lear presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.25.

Lear Stock Down 0.5 %

Shares of Lear stock opened at $95.59 on Friday. The business has a 50-day moving average of $103.66 and a 200-day moving average of $113.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The company has a market capitalization of $5.19 billion, a PE ratio of 10.05, a P/E/G ratio of 0.55 and a beta of 1.46. Lear Co. has a 1-year low of $94.29 and a 1-year high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results 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 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 analysts’ expectations of $5.52 billion. During the same quarter last year, the company posted $2.87 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Lear Co. will post 12.22 EPS for the current fiscal year.

Lear 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.