Alliancebernstein L.P. Boosts Position in Lear Co. (LEA)

Alliancebernstein L.P. increased its holdings in Lear Co. (NYSE:LEA) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,935 shares of the auto parts company’s stock after buying an additional 42,982 shares during the quarter. Alliancebernstein L.P.’s holdings in Lear were worth $81,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock worth $297,203,000 after buying an additional 302,664 shares during the last quarter. Boston Partners boosted its holdings in shares of Lear by 36.6% in the second quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock worth $254,274,000 after buying an additional 366,768 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lear by 61.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,182,032 shares of the auto parts company’s stock worth $171,394,000 after buying an additional 450,389 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lear by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 977,485 shares of the auto parts company’s stock worth $181,649,000 after buying an additional 15,274 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its holdings in shares of Lear by 65.8% in the second quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock worth $171,785,000 after buying an additional 366,915 shares during the last quarter. 88.94% of the stock is currently owned by institutional investors.

In related news, Director Richard Harold Bott sold 789 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $135.13, for a total value of $106,617.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.43% of the company’s stock.

A number of equities analysts recently issued reports on LEA shares. Wolfe Research started coverage on shares of Lear in a report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. Buckingham Research set a $150.00 price objective on shares of Lear and gave the stock a “hold” rating in a report on Wednesday, September 19th. Goldman Sachs Group raised shares of Lear from a “neutral” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Thursday, October 11th. Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $209.00 to $214.00 in a report on Tuesday, July 31st. Finally, Barclays restated a “hold” rating and set a $170.00 target price on shares of Lear in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $201.60.

Lear stock opened at $137.63 on Friday. The company has a market cap of $8.82 billion, a PE ratio of 8.10 and a beta of 1.31. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44. Lear Co. has a 1 year low of $128.05 and a 1 year high of $206.36.

Lear (NYSE:LEA) last released 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 company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.95 billion. Lear had a net margin of 6.14% and a return on equity of 28.11%. As a group, analysts anticipate that Lear Co. will post 18.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 6th. Lear’s payout ratio is currently 16.47%.

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About Lear

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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