Point72 Asset Management L.P. Has $3.30 Million Stock Position in Lear Co. (NYSE:LEA)

Point72 Asset Management L.P. decreased its holdings in shares of Lear Co. (NYSE:LEA) by 94.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,200 shares of the auto parts company’s stock after selling 530,900 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.06% of Lear worth $3,296,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Lear during the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 70.5% during the 2nd 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 period. Brooklyn Investment Group bought a new stake in shares of Lear during the 3rd quarter worth $34,000. Blue Trust Inc. boosted its holdings in shares of Lear by 240.4% during the 3rd 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 period. Finally, Signaturefd LLC boosted its holdings 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 buying an additional 139 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analyst Ratings Changes

LEA has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wolfe Research initiated coverage on shares of Lear in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group reduced their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Morgan Stanley reduced their price target on shares of Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Eight investment 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 stock currently has an average rating of “Hold” and an average target price of $140.25.

Lear Price Performance

NYSE:LEA opened at $102.56 on Tuesday. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.59 and a beta of 1.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The company has a 50-day moving average of $100.60 and a 200-day moving average of $110.22. Lear Co. has a 52 week low of $92.14 and a 52 week high of $147.11.

Lear (NYSE:LEA) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted $2.87 EPS. As a group, equities research analysts anticipate that Lear Co. will post 12.01 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s dividend payout ratio (DPR) is currently 32.39%.

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.