Wedge Capital Management L L P NC Has $11.57 Million Stock Position in Lear Co. (NYSE:LEA)

Wedge Capital Management L L P NC grew its stake in Lear Co. (NYSE:LEA) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,034 shares of the auto parts company’s stock after purchasing an additional 4,896 shares during the quarter. Wedge Capital Management L L P NC owned about 0.19% of Lear worth $11,574,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LEA. Altshuler Shaham Ltd acquired a new position in shares of Lear in the 2nd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of Lear in the 1st quarter valued at $29,000. Riverview Trust Co acquired a new position in shares of Lear in the 1st quarter valued at $32,000. EverSource Wealth Advisors LLC raised its stake in Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Lear during the 1st quarter worth $62,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on LEA shares. Morgan Stanley dropped their price objective on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Bank of America dropped their price objective on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group dropped their price objective on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.55.

Lear Stock Down 0.2 %

Shares of Lear stock opened at $106.73 on Tuesday. The business’s 50 day simple moving average is $110.13 and its 200 day simple moving average is $119.86. Lear Co. has a 52-week low of $101.67 and a 52-week high of $147.11. The firm has a market cap of $6.06 billion, a PE ratio of 11.64, a P/E/G ratio of 0.44 and a beta of 1.44. 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 (NYSE:LEA) last announced its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the firm earned $3.33 EPS. Lear’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that Lear Co. will post 12.49 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is 33.59%.

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.