XTX Topco Ltd Takes Position in Lear Corporation $LEA

XTX Topco Ltd purchased a new position in Lear Corporation (NYSE:LEA) in the second quarter, Holdings Channel reports. The fund purchased 7,832 shares of the auto parts company’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEA. Jump Financial LLC bought a new stake in shares of Lear in the 1st quarter valued at approximately $1,463,000. Dynamic Technology Lab Private Ltd bought a new position in Lear during the first quarter worth $725,000. Voya Investment Management LLC boosted its holdings in Lear by 34.4% in the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock worth $4,031,000 after purchasing an additional 11,696 shares during the period. Eagle Global Advisors LLC boosted its holdings in Lear by 11.5% in the first quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company’s stock worth $6,663,000 after purchasing an additional 7,800 shares during the period. Finally, Comerica Bank increased its stake in Lear by 9.8% during the first quarter. Comerica Bank now owns 40,086 shares of the auto parts company’s stock valued at $3,536,000 after purchasing an additional 3,575 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LEA shares. Citigroup restated a “neutral” rating on shares of Lear in a research report on Tuesday, October 14th. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. The Goldman Sachs Group set a $104.00 target price on shares of Lear in a report on Monday, September 29th. Barclays upped their target price on Lear from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lear in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $119.60.

Lear Stock Performance

Shares of NYSE LEA opened at $107.75 on Wednesday. Lear Corporation has a 12-month low of $73.85 and a 12-month high of $113.10. The company has a market cap of $5.59 billion, a PE ratio of 12.57, a P/E/G ratio of 0.82 and a beta of 1.38. The stock has a 50 day simple moving average of $103.49 and a 200-day simple moving average of $101.15. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53.

Lear (NYSE:LEA) last announced its earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. Lear had a return on equity of 13.94% and a net margin of 2.05%.The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors 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 yield of 2.9%. Lear’s dividend payout ratio is presently 37.65%.

Lear Profile

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.