Icon Wealth Advisors LLC Purchases 48,372 Shares of Lear Co. (NYSE:LEA)

Icon Wealth Advisors LLC grew its position in shares of Lear Co. (NYSE:LEA) by 3,359.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,812 shares of the auto parts company’s stock after buying an additional 48,372 shares during the quarter. Icon Wealth Advisors LLC owned approximately 0.09% of Lear worth $5,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Lear during the first quarter worth $100,000. UniSuper Management Pty Ltd grew its holdings in Lear by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the auto parts company’s stock worth $116,000 after acquiring an additional 400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Lear by 5.9% in 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 acquiring an additional 1,806 shares in the last quarter. Ascent Group LLC bought a new position in shares of Lear in the first quarter worth about $1,900,000. Finally, Caxton Associates LP lifted its position in shares of Lear by 63.9% during the first quarter. Caxton Associates LP now owns 5,734 shares of the auto parts company’s stock worth $831,000 after purchasing an additional 2,236 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LEA shares. Wells Fargo & Company dropped their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Bank of America lowered their price objective on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley cut their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Lear has a consensus rating of “Hold” and a consensus target price of $140.25.

Lear Price Performance

Shares of NYSE LEA opened at $96.52 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. Lear Co. has a twelve month low of $92.14 and a twelve month high of $147.11. The business’s 50 day moving average price is $102.78 and its two-hundred day moving average price is $112.99. The company has a market cap of $5.24 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46.

Lear (NYSE:LEA) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.87 EPS. On average, analysts predict that Lear Co. will post 12.19 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.19%. Lear’s dividend payout ratio is presently 32.39%.

About Lear

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.