State of New Jersey Common Pension Fund D Grows Holdings in Lear Co. (NYSE:LEA)

State of New Jersey Common Pension Fund D raised its position in Lear Co. (NYSE:LEA) by 7.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,928 shares of the auto parts company’s stock after purchasing an additional 1,135 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lear were worth $1,848,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC increased its position in shares of Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock valued at $820,929,000 after acquiring an additional 946,109 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lear by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock worth $872,640,000 after purchasing an additional 109,746 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after buying an additional 238,964 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after buying an additional 504,091 shares during the period. Finally, Greenhaven Associates Inc. increased its holdings in Lear by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after buying an additional 17,820 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Down 0.2 %

Shares of NYSE:LEA opened at $95.40 on Tuesday. The firm has a fifty day moving average price of $103.36 and a two-hundred day moving average price of $113.48. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.53 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 Co. has a one year low of $94.29 and a one year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.52 billion. During the same quarter last year, the company earned $2.87 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts anticipate that Lear Co. will post 12.19 EPS for the current fiscal year.

Analyst Ratings Changes

LEA has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, October 21st. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. TD Cowen cut their price target on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley lowered their price objective on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.25.

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.