Semanteon Capital Management LP Makes New $1.14 Million Investment in Lear Co. (NYSE:LEA)

by · The Markets Daily

Semanteon Capital Management LP purchased a new stake in Lear Co. (NYSE:LEA – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,477 shares of the auto parts company’s stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEA. State of Michigan Retirement System increased its position in shares of Lear by 0.5% during the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after buying an additional 100 shares during the period. Daiwa Securities Group Inc. increased its holdings in Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock worth $555,000 after acquiring an additional 100 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock valued at $989,000 after purchasing an additional 124 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Lear by 6.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock valued at $316,000 after purchasing an additional 137 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LEA shares. Morgan Stanley dropped their price objective on Lear from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 price objective on shares of Lear in a report on Tuesday, September 10th. Barclays lowered their target price on shares of Lear from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group decreased their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.75.

Check Out Our Latest Stock Analysis on Lear

Lear Stock Performance

NYSE:LEA traded up $1.12 during mid-day trading on Monday, reaching $99.77. The company’s stock had a trading volume of 8,430 shares, compared to its average volume of 656,540. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $109.02 and its two-hundred day moving average price is $117.45. Lear Co. has a 12-month low of $97.51 and a 12-month high of $147.11. The stock has a market cap of $5.67 billion, a P/E ratio of 10.76, a PEG ratio of 0.50 and a beta of 1.44.

Lear (NYSE:LEA – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 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 return on equity of 14.75% and a net margin of 2.30%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.87 earnings per share. On average, equities analysts forecast that Lear Co. will post 12.27 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were given a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.09%. Lear’s dividend payout ratio is currently 33.59%.

Lear Company Profile

(Free Report)

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.

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