Foundations Investment Advisors LLC acquired a new stake in shares of Lear Co. (NYSE:LEA – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,056 shares of the auto parts company’s stock, valued at approximately $224,000.
Other large investors have also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Lear in the 1st quarter valued at $1,984,000. Russell Investments Group Ltd. increased its holdings in shares of Lear by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 307,383 shares of the auto parts company’s stock worth $44,534,000 after acquiring an additional 5,584 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Lear by 35.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock worth $7,953,000 after purchasing an additional 14,305 shares during the period. Seven Eight Capital LP bought a new position in shares of Lear during the 2nd quarter valued at about $530,000. Finally, Shell Asset Management Co. grew its position in shares of Lear by 73.6% in the 1st quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock valued at $1,703,000 after purchasing an additional 4,984 shares during the period. Institutional investors own 97.04% of the company’s stock.
Lear Price Performance
NYSE:LEA opened at $98.65 on Friday. The stock has a market capitalization of $5.60 billion, a PE ratio of 10.76, a P/E/G ratio of 0.50 and a beta of 1.44. Lear Co. has a 1-year low of $97.51 and a 1-year high of $147.11. The firm has a fifty day simple moving average of $109.02 and a 200 day simple moving average of $117.58. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.
Lear Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 annualized dividend and a dividend yield of 3.12%. Lear’s dividend payout ratio is currently 33.59%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on LEA shares. Citigroup cut their price target on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. UBS Group reduced their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley dropped their price target on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Finally, Bank of America decreased their price objective on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and an average price target of $142.75.
Check Out Our Latest Research Report on LEA
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.
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