Daiwa Securities Group Inc. increased its stake in Lear Co. (NYSE:LEA) by 264.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,750 shares of the auto parts company’s stock after acquiring an additional 10,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Lear were worth $2,139,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in LEA. Bank of Montreal Can acquired a new stake in shares of Lear in the second quarter valued at $266,584,000. Massachusetts Financial Services Co. MA raised its stake in shares of Lear by 1,004.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 731,643 shares of the auto parts company’s stock valued at $135,947,000 after acquiring an additional 665,403 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in Lear by 65.8% in the second quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock valued at $171,785,000 after buying an additional 366,915 shares during the last quarter. Boston Partners increased its holdings in Lear by 36.6% in the second quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock valued at $254,274,000 after buying an additional 366,768 shares during the last quarter. Finally, FMR LLC increased its holdings in Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after buying an additional 302,664 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
Several equities analysts recently commented on the company. Citigroup dropped their target price on Lear from $234.00 to $214.00 and set a “buy” rating on the stock in a report on Friday, October 12th. JPMorgan Chase & Co. dropped their target price on Lear from $209.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. Barclays reissued a “hold” rating and issued a $170.00 target price on shares of Lear in a report on Wednesday, October 17th. ValuEngine lowered Lear from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 26th. Finally, Zacks Investment Research raised Lear from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Lear has an average rating of “Buy” and an average target price of $203.47.
Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 25th. The auto parts company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.06). The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.95 billion. Lear had a return on equity of 28.11% and a net margin of 6.14%. Analysts predict that Lear Co. will post 18.29 earnings per share for the current year.
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Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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