The Manufacturers Life Insurance Company Has $6.13 Million Stock Holdings in Lear Co. (NYSE:LEA)

The Manufacturers Life Insurance Company lowered its position in shares of Lear Co. (NYSE:LEA) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,629 shares of the auto parts company’s stock after selling 806 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Lear worth $6,125,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Lear by 11,753.3% during the second quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after purchasing an additional 1,008,200 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of 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 buying an additional 946,109 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 504,091 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Lear by 970.4% in the fourth quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock valued at $76,373,000 after acquiring an additional 490,324 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Lear by 9.5% during the second 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. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

NYSE:LEA opened at $108.04 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $111.59 and a 200 day simple moving average of $121.79. Lear Co. has a 1-year low of $101.67 and a 1-year high of $147.11. The stock has a market cap of $6.14 billion, a P/E ratio of 11.78, a PEG ratio of 0.43 and a beta of 1.44.

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 net margin of 2.30% and a return on equity of 14.75%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the business posted $3.33 earnings per share. Lear’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that Lear Co. will post 12.66 earnings per share for the current year.

Lear Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America decreased their price target on Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Citigroup lowered their target price on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company cut their price target on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group lowered their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.