State of New Jersey Common Pension Fund D Buys 1,135 Shares of Lear Co. (NYSE:LEA)

State of New Jersey Common Pension Fund D lifted its stake in shares of Lear Co. (NYSE:LEA) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,928 shares of the auto parts company’s stock after purchasing an additional 1,135 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lear were worth $1,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LEA. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 110 shares during the last quarter. Wahed Invest LLC increased its position in Lear by 14.0% in the 1st quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock valued at $163,000 after acquiring an additional 138 shares during the period. Signaturefd LLC raised its stake in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 139 shares during the last quarter. Systematic Financial Management LP increased its holdings in Lear by 1.0% in the second quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock valued at $1,866,000 after purchasing an additional 155 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Lear by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock worth $251,000 after purchasing an additional 184 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEA has been the topic of several analyst reports. Bank of America reduced their target price on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price target on shares of Lear in a research report on Tuesday, September 10th. Wells Fargo & Company dropped their price objective on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Barclays cut Lear from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lear presently has an average rating of “Moderate Buy” and a consensus price target of $140.25.

Lear Stock Down 0.2 %

Lear stock opened at $95.40 on Tuesday. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. The firm’s fifty day moving average price is $103.36 and its two-hundred day moving average price is $113.48. Lear Co. has a 1-year low of $94.29 and a 1-year 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.

Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.87 EPS. On average, equities research analysts predict that Lear Co. will post 12.19 earnings per share for the current fiscal year.

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.