Lingohr & Partner Asset Management GmbH Reduces Holdings in Lear Co. (LEA)

Lingohr & Partner Asset Management GmbH reduced its position in Lear Co. (NYSE:LEA) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,169 shares of the auto parts company’s stock after selling 1,229 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in Lear were worth $895,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Townsend & Associates Inc acquired a new position in Lear in the 2nd quarter worth about $113,000. Fort L.P. acquired a new position in Lear in the 2nd quarter worth about $113,000. Squar Milner Financial Services LLC acquired a new position in Lear in the 2nd quarter worth about $130,000. Signet Financial Management LLC acquired a new position in Lear in the 2nd quarter worth about $131,000. Finally, Atlantic Trust Group LLC increased its holdings in shares of Lear by 137.6% during the 1st quarter. Atlantic Trust Group LLC now owns 815 shares of the auto parts company’s stock valued at $152,000 after acquiring an additional 472 shares during the last quarter. 91.17% of the stock is currently owned by institutional investors.

LEA has been the topic of a number of analyst reports. Citigroup lowered their price objective on Lear from $243.00 to $234.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Robert W. Baird reissued a “buy” rating and set a $243.00 price objective on shares of Lear in a report on Friday, July 27th. Longbow Research reissued a “buy” rating and set a $225.00 price objective on shares of Lear in a report on Thursday, July 26th. Goldman Sachs Group raised Lear from a “neutral” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Thursday, October 11th. Finally, Zacks Investment Research raised Lear from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Lear presently has a consensus rating of “Buy” and an average target price of $204.38.

LEA opened at $134.38 on Friday. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 7.33 and a beta of 1.34. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. Lear Co. has a 12-month low of $130.55 and a 12-month high of $206.36.

Lear (NYSE:LEA) last released its earnings results on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.99 by ($0.04). The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.54 billion. Lear had a net margin of 6.31% and a return on equity of 28.84%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $4.39 EPS. Research analysts expect that Lear Co. will post 18.61 EPS for the current fiscal year.

Lear Company Profile

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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