Lear Co. (NYSE:LEA) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its position in Lear Co. (NYSE:LEA) by 25.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,090 shares of the auto parts company’s stock after acquiring an additional 626 shares during the quarter. Inspire Investing LLC’s holdings in Lear were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Lear during the 4th quarter worth $79,611,000. Coldstream Capital Management Inc. acquired a new stake in shares of Lear during the fourth quarter worth about $221,000. Corient Private Wealth LLC grew its holdings in shares of Lear by 13.4% during the fourth quarter. Corient Private Wealth LLC now owns 22,159 shares of the auto parts company’s stock worth $3,129,000 after buying an additional 2,627 shares during the last quarter. Trexquant Investment LP increased its position in Lear by 20.1% in the 4th quarter. Trexquant Investment LP now owns 17,823 shares of the auto parts company’s stock valued at $2,517,000 after acquiring an additional 2,977 shares during the period. Finally, Commerce Bank raised its stake in Lear by 78.1% during the 4th quarter. Commerce Bank now owns 6,888 shares of the auto parts company’s stock valued at $973,000 after acquiring an additional 3,020 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LEA. UBS Group dropped their target price on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $132.00 target price on shares of Lear in a research note on Tuesday, September 10th. Bank of America dropped their price target on shares of Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Evercore ISI reduced their price objective on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Finally, Morgan Stanley lowered their price objective on Lear from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lear presently has an average rating of “Moderate Buy” and an average target price of $149.70.

Lear Stock Performance

Shares of LEA stock opened at $108.02 on Monday. The stock has a fifty day moving average price of $113.91 and a 200 day moving average price of $123.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. The stock has a market cap of $6.13 billion, a PE ratio of 11.78, a P/E/G ratio of 0.41 and a beta of 1.45. Lear Co. has a 1 year low of $101.67 and a 1 year high of $147.11.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the firm earned $3.33 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Lear Co. will post 12.79 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Wednesday, September 4th will be given a dividend of $0.77 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.08 annualized dividend and a dividend yield of 2.85%. Lear’s dividend payout ratio is currently 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.