Icon Wealth Advisors LLC Has $5.44 Million Position in Lear Co. (NYSE:LEA)

Icon Wealth Advisors LLC increased its position in shares of Lear Co. (NYSE:LEA) by 3,359.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,812 shares of the auto parts company’s stock after acquiring an additional 48,372 shares during the period. Icon Wealth Advisors LLC’s holdings in Lear were worth $5,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LEA. Swedbank AB bought a new position in shares of Lear in the 1st quarter valued at $1,984,000. Seven Eight Capital LP acquired a new stake in shares of Lear in the 2nd quarter valued at approximately $530,000. Boston Partners grew its holdings in shares of Lear by 4.2% during the 1st quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock valued at $148,216,000 after purchasing an additional 41,496 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Lear by 36.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Lear by 46.0% in the 2nd quarter. AMF Tjanstepension AB now owns 83,072 shares of the auto parts company’s stock valued at $9,497,000 after purchasing an additional 26,154 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Trading Up 3.2 %

NYSE LEA opened at $96.52 on Friday. Lear Co. has a one year low of $92.14 and a one year high of $147.11. 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 business has a 50 day simple moving average of $102.78 and a 200 day simple moving average of $112.99. The stock has a market capitalization of $5.24 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.52 and a beta of 1.46.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating 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 company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business posted $2.87 EPS. Lear’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts expect that Lear Co. will post 12.19 earnings per share for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.19%. Lear’s dividend payout ratio is currently 32.39%.

Wall Street Analyst Weigh In

LEA has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Morgan Stanley cut their price target on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Wolfe Research assumed coverage on Lear in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.