Systematic Financial Management LP Has $1.74 Million Position in Lear Co. (NYSE:LEA)

Systematic Financial Management LP cut its holdings in Lear Co. (NYSE:LEA) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,954 shares of the auto parts company’s stock after selling 385 shares during the quarter. Systematic Financial Management LP’s holdings in Lear were worth $1,741,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LEA. Altshuler Shaham Ltd bought a new position in shares of Lear during the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Brooklyn Investment Group bought a new position in Lear during the third quarter valued at about $34,000. Blue Trust Inc. lifted its position in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of 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 acquiring an additional 139 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Price Performance

Shares of NYSE:LEA opened at $100.10 on Friday. The business’s 50 day moving average is $101.20 and its 200-day moving average is $110.88. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $5.44 billion, a PE ratio of 10.53, a PEG ratio of 0.59 and a beta of 1.45. Lear Co. has a 1-year low of $92.14 and a 1-year high of $147.11.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the company posted $2.87 EPS. The business’s revenue was down 3.4% on a year-over-year basis. Sell-side analysts predict that Lear Co. will post 12.01 earnings per share for the current year.

Lear Dividend Announcement

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

Analyst Upgrades and Downgrades

LEA has been the subject of several analyst reports. Bank of America reduced their target price on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wolfe Research began coverage on shares of Lear in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Wells Fargo & Company dropped 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. The Goldman Sachs Group cut their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.