Bridgewater Associates LP Sells 1,915 Shares of Lear Co. (NYSE:LEA)

Bridgewater Associates LP lowered its stake in Lear Co. (NYSE:LEA) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,742 shares of the auto parts company’s stock after selling 1,915 shares during the period. Bridgewater Associates LP owned approximately 0.08% of Lear worth $4,884,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Lear in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 110 shares during the last quarter. Brooklyn Investment Group acquired a new position in Lear during the third quarter valued at approximately $34,000. Blue Trust Inc. lifted its stake in Lear by 240.4% during the third 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 last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Trading Up 0.6 %

NYSE LEA opened at $97.84 on Friday. Lear Co. has a 12 month low of $92.14 and a 12 month high of $147.11. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.32 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The business’s 50-day moving average price is $101.91 and its two-hundred day moving average price is $111.91.

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

Lear Announces Dividend

The company also recently announced 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 3.15%. The ex-dividend date is Wednesday, December 11th. Lear’s dividend payout ratio is presently 32.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LEA shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Wolfe Research started coverage on shares of Lear in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. TD Cowen decreased their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Barclays cut shares of Lear from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $140.00 to $120.00 in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.