Lear Co. (NYSE:LEA) Shares Bought by Petrus Trust Company LTA

Petrus Trust Company LTA increased its holdings in Lear Co. (NYSE:LEA) by 56.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,687 shares of the auto parts company’s stock after purchasing an additional 3,143 shares during the quarter. Petrus Trust Company LTA’s holdings in Lear were worth $948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Point72 DIFC Ltd increased its holdings in shares of Lear by 142.9% in the third quarter. Point72 DIFC Ltd now owns 18,838 shares of the auto parts company’s stock valued at $2,056,000 after buying an additional 11,081 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lear by 6.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 715,788 shares of the auto parts company’s stock worth $78,128,000 after acquiring an additional 46,303 shares during the last quarter. Centiva Capital LP grew its holdings in shares of Lear by 69.2% in the 3rd quarter. Centiva Capital LP now owns 28,271 shares of the auto parts company’s stock worth $3,086,000 after acquiring an additional 11,567 shares during the last quarter. Point72 Hong Kong Ltd raised its position in shares of Lear by 22.6% during the third quarter. Point72 Hong Kong Ltd now owns 10,542 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 1,942 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in shares of Lear by 8.3% during the third quarter. ARGA Investment Management LP now owns 473,881 shares of the auto parts company’s stock valued at $51,724,000 after purchasing an additional 36,448 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Stock Performance

Shares of LEA stock opened at $99.16 on Wednesday. The firm has a market cap of $5.39 billion, a P/E ratio of 10.43, a PEG ratio of 0.59 and a beta of 1.45. 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 Co. has a fifty-two week low of $92.14 and a fifty-two week high of $147.11. The stock’s 50-day moving average is $101.32 and its two-hundred day moving average is $110.95.

Lear (NYSE:LEA) last issued 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. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.87 earnings per share. Analysts predict that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 annualized dividend and a dividend yield of 3.11%. Lear’s dividend payout ratio (DPR) is presently 32.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wolfe Research initiated coverage on Lear in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Bank of America lowered their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, TD Cowen decreased their target price on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research 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. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and a consensus target price of $140.25.

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.