Pacer Advisors Inc. Increases Holdings in Lear Co. (NYSE:LEA)

Pacer Advisors Inc. raised its stake in Lear Co. (NYSE:LEA) by 11,753.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016,778 shares of the auto parts company’s stock after purchasing an additional 1,008,200 shares during the quarter. Pacer Advisors Inc. owned about 1.79% of Lear worth $116,126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Inspire Investing LLC grew its stake in shares of Lear by 25.4% in the second quarter. Inspire Investing LLC now owns 3,090 shares of the auto parts company’s stock valued at $353,000 after buying an additional 626 shares in the last quarter. MQS Management LLC acquired a new stake in Lear in the second quarter valued at approximately $478,000. Kendall Capital Management grew its position in Lear by 81.3% in the second quarter. Kendall Capital Management now owns 6,736 shares of the auto parts company’s stock valued at $769,000 after acquiring an additional 3,020 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Lear during the second quarter valued at approximately $530,000. Finally, Hsbc Holdings PLC lifted its position in shares of Lear by 1.9% during the second quarter. Hsbc Holdings PLC now owns 104,565 shares of the auto parts company’s stock worth $11,907,000 after purchasing an additional 1,906 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Morgan Stanley lowered their target price on Lear from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Wolfe Research initiated coverage on Lear in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. UBS Group lowered their price objective on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays cut their target price on Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Lear has a consensus rating of “Moderate Buy” and a consensus price target of $149.70.

Lear Price Performance

Shares of NYSE LEA opened at $107.99 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 company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.45. Lear Co. has a twelve month low of $101.67 and a twelve month high of $147.11. The business has a 50 day simple moving average of $114.13 and a 200-day simple moving average of $124.22.

Lear (NYSE:LEA) last released its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, beating 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 firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm earned $3.33 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Lear Co. will post 12.79 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a 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.