Brooklyn Investment Group Makes New Investment in Lear Co. (NYSE:LEA)

Brooklyn Investment Group acquired a new position in Lear Co. (NYSE:LEA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 307 shares of the auto parts company’s stock, valued at approximately $34,000.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position 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. Signaturefd LLC grew its position in shares of Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 139 shares during the period. Systematic Financial Management LP grew its position in shares of Lear by 1.0% during the 2nd quarter. Systematic Financial Management LP now owns 16,339 shares of the auto parts company’s stock valued at $1,866,000 after acquiring an additional 155 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Lear by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock valued at $251,000 after acquiring an additional 184 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Lear by 1.6% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,968 shares of the auto parts company’s stock valued at $1,367,000 after acquiring an additional 188 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Stock Performance

NYSE LEA opened at $97.84 on Friday. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The stock has a market capitalization of $5.32 billion, a PE ratio of 10.29, a P/E/G ratio of 0.57 and a beta of 1.46. The company’s 50 day simple moving average is $101.91 and its two-hundred day simple moving average is $111.91.

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

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.15%. The ex-dividend date is Wednesday, December 11th. Lear’s dividend payout ratio is presently 32.39%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LEA shares. TD Cowen reduced their target price 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Morgan Stanley cut their price objective 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. Finally, Bank of America cut 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $140.25.

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.