Lear Co. (NYSE:LEA) Stock Holdings Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in Lear Co. (NYSE:LEA) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,684 shares of the auto parts company’s stock after selling 14,706 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of Lear worth $12,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEA. Victory Capital Management Inc. increased its stake in shares of Lear by 6.7% in the second quarter. Victory Capital Management Inc. now owns 15,166 shares of the auto parts company’s stock valued at $1,732,000 after purchasing an additional 951 shares during the period. Headlands Technologies LLC increased its position in Lear by 936.0% in the 2nd quarter. Headlands Technologies LLC now owns 2,103 shares of the auto parts company’s stock valued at $240,000 after acquiring an additional 1,900 shares during the period. American Century Companies Inc. increased its position in Lear by 22.7% in the 2nd quarter. American Century Companies Inc. now owns 75,147 shares of the auto parts company’s stock valued at $8,583,000 after acquiring an additional 13,909 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Lear by 21.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,825 shares of the auto parts company’s stock valued at $551,000 after acquiring an additional 855 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position 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 during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LEA has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Barclays cut Lear from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Bank of America lowered their price target on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut their price objective on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, TD Cowen lowered their target price on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Lear currently has an average rating of “Hold” and a consensus price target of $134.18.

Lear Price Performance

NYSE LEA opened at $90.93 on Friday. 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 Co. has a 1 year low of $90.42 and a 1 year high of $147.11. The company has a market cap of $4.94 billion, a PE ratio of 9.56, a PEG ratio of 0.58 and a beta of 1.43. The stock’s 50-day moving average price is $96.40 and its two-hundred day moving average price is $106.02.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) 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 business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business earned $2.87 earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. On average, analysts predict that Lear Co. will post 12.01 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th were given a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $3.08 annualized dividend and a dividend yield of 3.39%. Lear’s dividend payout ratio (DPR) is presently 32.39%.

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.