RWC Asset Management LLP Increases Holdings in Lear Corporation $LEA

RWC Asset Management LLP lifted its holdings in shares of Lear Corporation (NYSE:LEA) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 570,048 shares of the auto parts company’s stock after acquiring an additional 20,900 shares during the period. Lear comprises 2.8% of RWC Asset Management LLP’s investment portfolio, making the stock its 4th largest holding. RWC Asset Management LLP’s holdings in Lear were worth $57,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LEA. Jones Financial Companies Lllp grew its stake in Lear by 5,205.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after buying an additional 7,131 shares in the last quarter. United Services Automobile Association purchased a new position in Lear in the first quarter worth $267,000. Empowered Funds LLC bought a new position in Lear in the first quarter valued at $256,000. Voya Investment Management LLC raised its position in Lear by 34.4% during the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after purchasing an additional 11,696 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Lear by 25.1% during the second quarter. Harbor Capital Advisors Inc. now owns 49,567 shares of the auto parts company’s stock valued at $4,708,000 after purchasing an additional 9,945 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $118.17, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer owned 15,244 shares in the company, valued at $1,801,383.48. This represents a 24.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on LEA shares. TD Cowen increased their price objective on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Wells Fargo & Company increased their price target on shares of Lear from $107.00 to $123.00 and gave the company an “equal weight” rating in a research report on Monday. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $112.00 target price (down previously from $115.00) on shares of Lear in a report on Monday, December 8th. Finally, UBS Group lowered their price target on shares of Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.40.

Lear Trading Down 0.3%

Shares of LEA opened at $124.09 on Tuesday. The stock has a market capitalization of $6.44 billion, a P/E ratio of 15.17, a PEG ratio of 1.15 and a beta of 1.30. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $127.36. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $112.07 and a two-hundred day simple moving average of $106.24.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 1.92% and a return on equity of 13.44%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.89 earnings per share. On average, research analysts anticipate that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $3.08 annualized dividend and a dividend yield of 2.5%. Lear’s payout ratio is 37.65%.

Lear Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.