Quantbot Technologies LP Has $8.15 Million Holdings in Lear Co. (LEA)

Quantbot Technologies LP grew its stake in Lear Co. (NYSE:LEA) by 1,832.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,221 shares of the auto parts company’s stock after buying an additional 53,312 shares during the quarter. Lear makes up 0.6% of Quantbot Technologies LP’s portfolio, making the stock its 21st biggest holding. Quantbot Technologies LP owned 0.09% of Lear worth $8,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in shares of Lear during the 2nd quarter worth $892,000. Hartford Investment Management Co. acquired a new position in shares of Lear during the 2nd quarter worth $589,000. Unigestion Holding SA acquired a new position in shares of Lear during the 2nd quarter worth $1,355,000. Janney Montgomery Scott LLC increased its stake in shares of Lear by 22.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,961 shares of the auto parts company’s stock worth $2,780,000 after purchasing an additional 2,739 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Lear by 20.2% during the 2nd quarter. Alps Advisors Inc. now owns 3,021 shares of the auto parts company’s stock worth $534,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.

NYSE LEA opened at $141.40 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.83 billion, a P/E ratio of 8.30 and a beta of 1.31. Lear Co. has a 1 year low of $128.05 and a 1 year high of $206.36.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 25th. The auto parts company reported $4.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.15 by ($0.06). The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.95 billion. Lear had a return on equity of 28.11% and a net margin of 6.14%. On average, equities research analysts expect that Lear Co. will post 18.21 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 6th. Lear’s dividend payout ratio is currently 16.47%.

In related news, Director Richard Harold Bott sold 789 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $135.13, for a total transaction of $106,617.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is currently owned by corporate insiders.

LEA has been the topic of several analyst reports. Buckingham Research dropped their price target on shares of Lear from $150.00 to $145.00 and set a “hold” rating on the stock in a research note on Friday, October 26th. ValuEngine upgraded shares of Lear from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $209.00 to $214.00 in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Lear from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Finally, Wolfe Research initiated coverage on shares of Lear in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Lear has an average rating of “Buy” and a consensus price target of $201.60.

ILLEGAL ACTIVITY NOTICE: “Quantbot Technologies LP Has $8.15 Million Holdings in Lear Co. (LEA)” was published by WKRB News and is the property of of WKRB News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.wkrb13.com/2018/11/26/quantbot-technologies-lp-has-8-15-million-holdings-in-lear-co-lea.html.

Lear Profile

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.

Recommended Story: Why do corrections happen?

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply