Neo Ivy Capital Management Takes Position in Lear Co. (NYSE:LEA)

Neo Ivy Capital Management bought a new position in shares of Lear Co. (NYSE:LEA) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,274 shares of the auto parts company’s stock, valued at approximately $1,886,000.

Other large investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new stake in Lear during the 2nd quarter worth approximately $530,000. Intech Investment Management LLC purchased a new stake in Lear during the 3rd quarter worth approximately $1,946,000. Dimensional Fund Advisors LP increased its stake 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 buying an additional 504,091 shares during the period. Victory Capital Management Inc. increased its stake in Lear by 39.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after buying an additional 6,055 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Lear by 30.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 9,385 shares of the auto parts company’s stock worth $1,024,000 after buying an additional 2,207 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America cut 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. 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. The Goldman Sachs Group lowered their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. TD Cowen lowered their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Morgan Stanley lowered their price target on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $140.25.

Lear Trading Up 0.1 %

Shares of Lear stock opened at $102.62 on Wednesday. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.59 and a beta of 1.45. The company has a fifty day simple moving average of $100.49 and a 200-day simple moving average of $110.06. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 EPS. On average, equities analysts forecast that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s dividend payout ratio is currently 32.39%.

About Lear

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.