Centiva Capital LP Raises Stock Position in Lear Co. (NYSE:LEA)

Centiva Capital LP raised its holdings in Lear Co. (NYSE:LEA) by 69.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,271 shares of the auto parts company’s stock after acquiring an additional 11,567 shares during the period. Centiva Capital LP’s holdings in Lear were worth $3,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Lear during the 1st quarter valued at approximately $1,984,000. Seven Eight Capital LP purchased a new position in Lear in the second quarter valued at $530,000. Intech Investment Management LLC acquired a new position in shares of Lear in the third quarter worth about $1,946,000. Victory Capital Management Inc. raised its position in shares of Lear by 39.9% in the third quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after acquiring an additional 6,055 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 504,091 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on LEA. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Bank of America reduced their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. TD Cowen decreased their target price on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Barclays lowered shares of Lear from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.25.

Lear Stock Up 0.6 %

Shares of NYSE LEA opened at $97.84 on Monday. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11. The company has a market capitalization of $5.32 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.58 and a beta of 1.46. The company has a 50 day simple moving average of $101.71 and a 200-day simple moving average of $111.53. 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 (NYSE:LEA) last posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $2.87 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts predict that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a yield of 3.15%. Lear’s 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.