LSV Asset Management Has $74.93 Million Position in Lear Co. (NYSE:LEA)

LSV Asset Management raised its holdings in Lear Co. (NYSE:LEA) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,091 shares of the auto parts company’s stock after buying an additional 25,410 shares during the quarter. LSV Asset Management owned 1.16% of Lear worth $74,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC lifted its stake in 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 worth $820,929,000 after purchasing an additional 946,109 shares during the period. Norges Bank bought a new position in shares of Lear during the 4th quarter worth approximately $79,611,000. Point72 Asset Management L.P. boosted its stake in 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 buying an additional 490,324 shares in the last quarter. Boston Partners grew its position in Lear by 66.5% in the fourth quarter. Boston Partners now owns 981,669 shares of the auto parts company’s stock valued at $138,595,000 after acquiring an additional 391,949 shares during the period. Finally, Lyrical Asset Management LP raised its stake in Lear by 55.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock worth $150,796,000 after acquiring an additional 380,771 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

LEA has been the topic of several recent analyst reports. Evercore ISI reduced their target price on shares of Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Bank of America cut their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Citigroup decreased their price target on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their price objective on Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.56.

Lear Stock Down 3.0 %

NYSE LEA opened at $110.30 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear Co. has a 52 week low of $107.25 and a 52 week high of $147.11. The stock has a market capitalization of $6.21 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.36 and a beta of 1.45. The stock has a fifty day moving average of $115.68 and a 200-day moving average of $125.94.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.26. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.33 EPS. On average, equities research analysts forecast that Lear Co. will post 12.79 EPS for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be paid a $0.77 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.79%. Lear’s payout ratio is presently 33.59%.

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.