Lear Co. (NYSE:LEA) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in Lear Co. (NYSE:LEA) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,713,661 shares of the auto parts company’s stock after purchasing an additional 206,822 shares during the period. Massachusetts Financial Services Co. MA owned about 3.15% of Lear worth $187,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Lear in the second quarter worth about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Blue Trust Inc. raised its holdings in Lear by 240.4% in the 3rd 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 period. Signaturefd LLC boosted its position in Lear by 71.6% during 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 in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Lear during the third quarter worth approximately $72,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 target price on shares of Lear in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Lear from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company decreased their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen lowered their price objective on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $140.25.

Lear Price Performance

LEA stock opened at $97.89 on Friday. Lear Co. has a 1 year low of $92.14 and a 1 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 firm has a market capitalization of $5.32 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. The business has a 50 day simple moving average of $102.64 and a 200-day simple moving average of $112.78.

Lear (NYSE:LEA) last issued its earnings results 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 analysts’ expectations of $5.52 billion. During the same period in the prior year, the business earned $2.87 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts anticipate that Lear Co. will post 12.19 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.15%. Lear’s dividend payout ratio is currently 32.39%.

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.