Assetmark Inc. Has $950,000 Position in Lear Co. (NYSE:LEA)

Assetmark Inc. increased its holdings in shares of Lear Co. (NYSE:LEA) by 73.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,701 shares of the auto parts company’s stock after acquiring an additional 3,678 shares during the period. Assetmark Inc.’s holdings in Lear were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LEA. Pzena Investment Management LLC raised its stake in shares of Lear by 15.2% in the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lear by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock worth $872,640,000 after acquiring an additional 109,746 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Lear by 9.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after acquiring an additional 238,964 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after buying an additional 504,091 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Lear by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after buying an additional 17,820 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TD Cowen dropped their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wolfe Research began coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective 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. Finally, Bank of America decreased 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Lear has a consensus rating of “Moderate Buy” and a consensus price target of $140.25.

Lear Stock Down 0.5 %

Lear stock opened at $95.59 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. Lear Co. has a 52-week low of $94.29 and a 52-week high of $147.11. The firm has a 50 day moving average price of $103.66 and a two-hundred day moving average price of $113.86. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.55 and a beta of 1.46.

Lear (NYSE:LEA) last released its earnings results 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. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.87 EPS. Equities analysts predict that Lear Co. will post 12.22 EPS for the current year.

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.