Lear Co. (NYSE:LEA) Shares Bought by Algert Global LLC

Algert Global LLC grew its stake in shares of Lear Co. (NYSE:LEA) by 244.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,275 shares of the auto parts company’s stock after acquiring an additional 5,165 shares during the period. Algert Global LLC’s holdings in Lear were worth $831,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in Lear by 15.2% during the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lear by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock worth $872,640,000 after acquiring an additional 109,746 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Lear by 9.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after acquiring an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lear by 36.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after acquiring an additional 504,091 shares in the last quarter. Finally, Greenhaven Associates Inc. grew its holdings in Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after acquiring an additional 17,820 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Trading Up 1.3 %

Shares of NYSE:LEA opened at $108.04 on Friday. The company has a market cap of $6.14 billion, a PE ratio of 11.78, a P/E/G ratio of 0.43 and a beta of 1.44. The company’s 50-day moving average price is $111.59 and its 200 day moving average price is $121.79. Lear Co. has a fifty-two week low of $101.67 and a fifty-two week high of $147.11. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $3.33 EPS. Lear’s revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Lear Co. will post 12.66 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, September 4th. Lear’s dividend payout ratio (DPR) is presently 33.59%.

Analyst Ratings Changes

LEA has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on shares of Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. UBS Group reduced their price target on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wolfe Research initiated coverage on shares of Lear in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Lear currently has an average rating of “Moderate Buy” and a consensus price target of $147.91.

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.