Point72 Hong Kong Ltd Has $1.15 Million Stock Holdings in Lear Co. (NYSE:LEA)

Point72 Hong Kong Ltd raised its stake in shares of Lear Co. (NYSE:LEA) by 22.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,542 shares of the auto parts company’s stock after buying an additional 1,942 shares during the period. Point72 Hong Kong Ltd’s holdings in Lear were worth $1,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Lear during the second quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Lear by 240.4% during the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 214 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Lear during the 3rd quarter valued at about $34,000. Finally, Signaturefd LLC grew its stake 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 buying an additional 139 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Morgan Stanley reduced their price objective on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. The Goldman Sachs Group lowered their target price 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Finally, Barclays lowered Lear from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus target price of $140.25.

Lear Trading Up 0.6 %

Shares of LEA stock opened at $97.84 on Monday. The firm has a market capitalization of $5.32 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.58 and a beta of 1.46. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11. The firm’s fifty day simple moving average is $101.71 and its 200 day simple moving average is $111.53. 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 (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS 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 analyst estimates of $5.52 billion. During the same quarter in the prior year, the business earned $2.87 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Lear Co. will post 12.01 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, December 11th. Lear’s payout ratio is presently 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.