AlphaQuest LLC Grows Stock Position in Lear Corporation $LEA

AlphaQuest LLC increased its stake in Lear Corporation (NYSE:LEA) by 203.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,865 shares of the auto parts company’s stock after acquiring an additional 6,611 shares during the period. AlphaQuest LLC’s holdings in Lear were worth $993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Schroder Investment Management Group boosted its stake in shares of Lear by 75.6% during the second quarter. Schroder Investment Management Group now owns 1,801,284 shares of the auto parts company’s stock valued at $171,086,000 after purchasing an additional 775,476 shares during the period. American Century Companies Inc. raised its holdings in Lear by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock valued at $120,577,000 after buying an additional 558,538 shares during the last quarter. Oldfield Partners LLP boosted its position in Lear by 0.4% during the 2nd quarter. Oldfield Partners LLP now owns 612,218 shares of the auto parts company’s stock valued at $58,148,000 after buying an additional 2,394 shares during the period. RWC Asset Management LLP grew its holdings in Lear by 3.8% in the 3rd quarter. RWC Asset Management LLP now owns 570,048 shares of the auto parts company’s stock worth $57,353,000 after acquiring an additional 20,900 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Lear in the second quarter valued at about $48,468,000. 97.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lear

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 value of $590,850.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.91% of the stock is owned by insiders.

Lear Stock Performance

Shares of LEA stock opened at $118.16 on Tuesday. The company’s fifty day moving average price is $116.58 and its 200-day moving average price is $108.06. The stock has a market cap of $6.13 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $127.36.

Lear (NYSE:LEA) last issued its quarterly earnings results 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. Lear had a net margin of 1.92% and a return on equity of 13.44%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period last year, the company posted $2.89 EPS. Lear’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, December 10th. Lear’s payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group raised their target price on Lear from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price objective on shares of Lear in a report on Thursday, January 15th. TD Cowen boosted their target price on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Citigroup raised their price target on Lear from $136.00 to $146.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $112.00 price objective (down from $115.00) on shares of Lear in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.20.

Lear Company 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.