FORA Capital LLC Makes New Investment in Lear Co. (NYSE:LEA)

FORA Capital LLC acquired a new position in shares of Lear Co. (NYSE:LEA) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,561 shares of the auto parts company’s stock, valued at approximately $1,698,000.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 110 shares during the last quarter. Wahed Invest LLC increased its holdings in shares of Lear by 14.0% in the 1st quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock valued at $163,000 after acquiring an additional 138 shares during the period. Signaturefd LLC boosted its stake in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares during the period. Systematic Financial Management LP boosted its stake in Lear by 1.0% during the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock worth $1,866,000 after purchasing an additional 155 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Lear by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock worth $251,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Stock Up 0.5 %

Shares of NYSE LEA opened at $97.25 on Thursday. The firm has a 50-day moving average price of $102.37 and a 200 day moving average price of $112.12. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46. 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 52 week low of $92.14 and a 52 week high of $147.11.

Lear (NYSE:LEA) last posted its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. Lear’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 earnings per share. Equities research analysts anticipate that Lear Co. will post 12.01 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $3.08 annualized dividend and a yield of 3.17%. Lear’s dividend payout ratio (DPR) is currently 32.39%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LEA shares. Barclays downgraded shares of Lear from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $140.00 to $120.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Morgan Stanley decreased their price target on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. TD Cowen lowered their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $140.25.

Lear Company 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.