Smith Graham & Co. Investment Advisors LP trimmed its holdings in shares of Lear Co. (NYSE:LEA) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,380 shares of the auto parts company’s stock after selling 1,260 shares during the period. Smith Graham & Co. Investment Advisors LP owned approximately 0.05% of Lear worth $4,695,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. Bank of Montreal Can bought a new position in shares of Lear in the 2nd quarter worth $266,584,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Lear by 1,004.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 731,643 shares of the auto parts company’s stock worth $135,947,000 after purchasing an additional 665,403 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Lear by 65.8% in the 2nd quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock worth $171,785,000 after purchasing an additional 366,915 shares in the last quarter. Boston Partners lifted its holdings in shares of Lear by 36.6% in the 2nd quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock worth $254,274,000 after purchasing an additional 366,768 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Lear by 23.3% in the 2nd quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock worth $297,203,000 after purchasing an additional 302,664 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
A number of equities analysts recently issued reports on LEA shares. Robert W. Baird reiterated a “buy” rating and issued a $243.00 target price on shares of Lear in a report on Friday, July 27th. Longbow Research reiterated a “buy” rating and issued a $225.00 target price on shares of Lear in a report on Thursday, July 26th. Citigroup lowered their price target on Lear from $243.00 to $234.00 and set a “buy” rating for the company in a research report on Monday, July 30th. Goldman Sachs Group raised Lear from a “neutral” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Thursday, October 11th. Finally, Buckingham Research set a $150.00 price target on Lear and gave the company a “hold” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $203.47.
Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.06). The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Lear had a net margin of 6.14% and a return on equity of 28.11%. Equities analysts expect that Lear Co. will post 18.31 EPS for the current year.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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