Janney Montgomery Scott LLC Has $1.02 Million Position in Lear Co. (NYSE:LEA)

Janney Montgomery Scott LLC grew its position in shares of Lear Co. (NYSE:LEA) by 30.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,385 shares of the auto parts company’s stock after buying an additional 2,207 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lear were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Lear in the second quarter worth $26,000. Headlands Technologies LLC acquired a new stake in Lear in the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in shares of Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after buying an additional 110 shares in the last quarter. Blue Trust Inc. increased its position in Lear by 240.4% during the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 214 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after acquiring an additional 139 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Trading Down 0.5 %

Lear stock opened at $95.59 on Friday. The firm has a 50 day moving average of $103.66 and a 200 day moving average of $113.86. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.55 and a beta of 1.46. Lear Co. has a 12-month low of $94.29 and a 12-month 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 posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm posted $2.87 earnings per share. Lear’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, research analysts predict that Lear Co. will post 12.22 earnings per share for the current year.

Analysts Set New Price Targets

LEA has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. TD Cowen reduced their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Morgan Stanley lowered their price objective on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Seven 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.25.

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.