Horizon Investments LLC Has $1.41 Million Stock Position in Lear Co. (NYSE:LEA)

Horizon Investments LLC lifted its holdings in shares of Lear Co. (NYSE:LEAGet Rating) by 112.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,868 shares of the auto parts company’s stock after acquiring an additional 5,232 shares during the quarter. Horizon Investments LLC’s holdings in Lear were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital International Investors bought a new position in Lear during the fourth quarter worth $378,998,000. Pzena Investment Management LLC raised its holdings in Lear by 21.4% in the 1st quarter. Pzena Investment Management LLC now owns 6,265,529 shares of the auto parts company’s stock valued at $893,402,000 after acquiring an additional 1,103,398 shares during the period. Sanders Capital LLC lifted its position in Lear by 2,314.2% during the fourth quarter. Sanders Capital LLC now owns 590,520 shares of the auto parts company’s stock worth $108,036,000 after acquiring an additional 566,060 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Lear by 6.1% during the first quarter. BlackRock Inc. now owns 8,250,147 shares of the auto parts company’s stock worth $1,176,389,000 after acquiring an additional 473,004 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Lear by 137.3% in the fourth quarter. JPMorgan Chase & Co. now owns 437,039 shares of the auto parts company’s stock valued at $79,957,000 after purchasing an additional 252,858 shares during the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Raymond E. Scott sold 6,143 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $127.83, for a total value of $785,259.69. Following the sale, the chief executive officer now directly owns 47,954 shares in the company, valued at $6,129,959.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 18,429 shares of company stock valued at $2,538,656. Company insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LEA. Cowen lifted their price target on Lear to $196.00 in a report on Tuesday, August 9th. Exane BNP Paribas raised shares of Lear from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $117.00 to $140.00 in a research report on Monday, July 11th. Citigroup boosted their price objective on shares of Lear to $162.00 in a report on Tuesday, August 9th. Morgan Stanley boosted their price target on Lear from $139.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Finally, Bank of America dropped their price objective on Lear from $195.00 to $185.00 and set a “buy” rating for the company in a report on Friday. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Lear presently has an average rating of “Hold” and a consensus target price of $168.93.

Lear Stock Performance

Shares of LEA stock opened at $140.69 on Monday. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 74.84, a PEG ratio of 0.44 and a beta of 1.49. The company has a current ratio of 1.33, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $140.32 and its 200-day moving average price is $136.96. Lear Co. has a 12 month low of $118.38 and a 12 month high of $195.43.

Lear (NYSE:LEAGet Rating) last posted its earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.45. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.01 billion. Lear had a net margin of 0.58% and a return on equity of 6.78%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 EPS. Equities research analysts forecast that Lear Co. will post 8.63 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Thursday, September 1st will be given a $0.77 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.19%. Lear’s dividend payout ratio (DPR) is presently 163.83%.

Lear Profile

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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.

Further Reading

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