Perennial Advisors LLC Acquires 2,306 Shares of Lear Co. (NYSE:LEA)

Perennial Advisors LLC grew its position in Lear Co. (NYSE:LEAFree Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,006 shares of the auto parts company’s stock after acquiring an additional 2,306 shares during the period. Perennial Advisors LLC owned about 0.06% of Lear worth $3,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. lifted its stake in shares of Lear by 5.9% during the 4th quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company’s stock worth $873,000 after buying an additional 515 shares during the last quarter. RWC Asset Management LLP increased its holdings in Lear by 23.3% in the 4th quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company’s stock valued at $38,913,000 after buying an additional 77,691 shares during the period. New Age Alpha Advisors LLC bought a new position in Lear in the 4th quarter valued at about $3,871,000. Dimensional Fund Advisors LP grew its holdings in shares of Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company’s stock valued at $247,566,000 after purchasing an additional 283,838 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Lear by 17.1% during the 4th quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company’s stock valued at $64,110,000 after purchasing an additional 99,072 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LEA. Morgan Stanley reduced their target price on shares of Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. TD Cowen downgraded shares of Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Friday, March 7th. Barclays downgraded shares of Lear from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.09.

View Our Latest Report on Lear

Lear Trading Up 1.3%

Shares of LEA opened at $88.48 on Friday. The firm’s 50 day simple moving average is $86.01 and its 200 day simple moving average is $92.26. The company has a market capitalization of $4.73 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02. Lear Co. has a 1-year low of $73.85 and a 1-year high of $126.85.

Lear (NYSE:LEAGet Free Report) last announced its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.48. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. Lear’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.18 earnings per share. Sell-side analysts forecast that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, June 5th. Lear’s dividend payout ratio (DPR) is presently 36.11%.

About Lear

(Free Report)

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.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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