Skandinaviska Enskilda Banken AB publ Buys New Position in Lear Corporation $LEA

Skandinaviska Enskilda Banken AB publ purchased a new position in Lear Corporation (NYSE:LEA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,191 shares of the auto parts company’s stock, valued at approximately $873,000.

A number of other large investors also recently modified their holdings of LEA. IFP Advisors Inc boosted its position in shares of Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 263 shares during the period. WPG Advisers LLC bought a new position in Lear during the first quarter worth $39,000. Bessemer Group Inc. raised its stake in Lear by 100.0% during the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 227 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Lear by 610.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 639 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 549 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in Lear by 2,682.9% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after purchasing an additional 939 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Stock Down 0.4%

Shares of LEA opened at $107.75 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $103.49 and a two-hundred day moving average price of $101.15. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.82 and a beta of 1.38. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $113.10.

Lear (NYSE:LEA) last issued its earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.Lear’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.89 EPS. Equities analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $3.08 annualized dividend and a dividend yield of 2.9%. Lear’s dividend payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating on shares of Lear in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their target price on Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Wells Fargo & Company boosted their price target on Lear from $108.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd. TD Cowen upped their price target on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Finally, Barclays lifted their price objective on Lear from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.60.

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.