Campbell & CO Investment Adviser LLC bought a new position in Lear Co. (NYSE:LEA) in the third quarter, HoldingsChannel reports. The fund bought 3,102 shares of the auto parts company’s stock, valued at approximately $338,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First American Trust FSB purchased a new position in shares of Lear during the third quarter valued at approximately $2,199,000. Legato Capital Management LLC grew its position in Lear by 47.6% in the 3rd quarter. Legato Capital Management LLC now owns 22,944 shares of the auto parts company’s stock worth $2,502,000 after purchasing an additional 7,400 shares during the period. Robecosam AG raised its stake in Lear by 6.3% during the 3rd quarter. Robecosam AG now owns 11,077 shares of the auto parts company’s stock valued at $1,208,000 after buying an additional 661 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Lear by 2.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 128,504 shares of the auto parts company’s stock valued at $14,013,000 after buying an additional 2,521 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Lear by 50.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,786 shares of the auto parts company’s stock worth $2,703,000 after buying an additional 8,289 shares during the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.
Shares of LEA stock opened at $130.72 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.26. The stock has a fifty day simple moving average of $118.10 and a two-hundred day simple moving average of $107.72. The firm has a market capitalization of $7.84 billion, a PE ratio of 53.36, a PEG ratio of 5.97 and a beta of 1.66. Lear Co. has a 52-week low of $63.20 and a 52-week high of $143.50.
Lear (NYSE:LEA) last released its quarterly earnings data on Tuesday, August 4th. The auto parts company reported ($4.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.98) by $0.84. Lear had a return on equity of 5.95% and a net margin of 0.75%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company posted $3.78 earnings per share. The business’s quarterly revenue was down 51.2% compared to the same quarter last year. On average, sell-side analysts forecast that Lear Co. will post 3.15 EPS for the current fiscal year.
LEA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Lear from $134.00 to $146.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Berenberg Bank initiated coverage on shares of Lear in a research note on Tuesday, October 6th. They issued a “buy” rating and a $145.00 price objective on the stock. Citigroup raised their price objective on shares of Lear from $104.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Barclays upped their target price on shares of Lear from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Finally, Morgan Stanley lifted their price target on shares of Lear from $86.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $118.50.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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