Brooklyn Investment Group Takes $34,000 Position in Lear Co. (NYSE:LEA)

Brooklyn Investment Group acquired a new stake in shares of Lear Co. (NYSE:LEA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 307 shares of the auto parts company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in LEA. Price T Rowe Associates Inc. MD raised its position in shares of Lear by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,266 shares of the auto parts company’s stock valued at $4,676,000 after buying an additional 1,806 shares in the last quarter. Tidal Investments LLC raised its position in shares of Lear by 40.2% during the 1st quarter. Tidal Investments LLC now owns 5,844 shares of the auto parts company’s stock valued at $847,000 after buying an additional 1,675 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Lear during the 1st quarter valued at $338,000. Swedbank AB bought a new position in shares of Lear during the 1st quarter valued at $1,984,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Lear by 337.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 63,761 shares of the auto parts company’s stock valued at $9,091,000 after purchasing an additional 49,177 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Price Performance

Shares of NYSE LEA opened at $97.84 on Friday. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The company’s 50-day moving average is $101.91 and its 200 day moving average is $111.91. The stock has a market capitalization of $5.32 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.57 and a beta of 1.46.

Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. Lear’s quarterly revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Lear Co. will post 12.01 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s dividend payout ratio is currently 32.39%.

Analyst Ratings Changes

Several equities analysts recently commented on LEA shares. Barclays lowered shares of Lear from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $140.00 to $120.00 in a report on Wednesday, October 30th. Bank of America reduced their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. TD Cowen reduced their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company reduced their target price on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lear has a consensus rating of “Hold” and a consensus price target of $140.25.

Lear Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.