Lear Co. (NYSE:LEA) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its position in Lear Co. (NYSE:LEA) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,714,653 shares of the auto parts company’s stock after acquiring an additional 526,763 shares during the period. Lear accounts for 2.7% of Pzena Investment Management LLC’s holdings, making the stock its 12th largest position. Pzena Investment Management LLC owned about 0.14% of Lear worth $842,054,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in Lear by 35.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock valued at $7,953,000 after acquiring an additional 14,305 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lear by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after buying an additional 109,746 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Lear during the 1st quarter worth $100,000. UniSuper Management Pty Ltd boosted its position in shares of Lear by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the auto parts company’s stock valued at $116,000 after acquiring an additional 400 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of Lear by 73.6% during the first quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock worth $1,703,000 after purchasing an additional 4,984 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Stock Performance

NYSE LEA traded up $0.24 during trading hours on Wednesday, hitting $93.19. 49,273 shares of the stock were exchanged, compared to its average volume of 659,065. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. Lear Co. has a 12-month low of $92.14 and a 12-month high of $147.11. The stock has a 50-day moving average of $103.13 and a 200 day moving average of $113.24.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the company posted $2.87 earnings per share. Lear’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Lear Co. will post 12.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LEA shares. Wolfe Research started coverage on Lear in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Bank of America lowered their price target on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. 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. StockNews.com downgraded shares of Lear from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TD Cowen reduced their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research 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, the company has a consensus rating of “Hold” and an average 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.