Pzena Investment Management LLC Buys 526,763 Shares of Lear Co. (NYSE:LEA)

Pzena Investment Management LLC raised its stake in shares of Lear Co. (NYSE:LEA) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,714,653 shares of the auto parts company’s stock after acquiring an additional 526,763 shares during the period. Lear comprises approximately 2.7% of Pzena Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Pzena Investment Management LLC owned 14.20% of Lear worth $842,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Lear by 35.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock worth $7,953,000 after buying an additional 14,305 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Lear by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after acquiring an additional 109,746 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Lear during the 1st quarter worth approximately $100,000. UniSuper Management Pty Ltd raised its holdings in shares of Lear by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the auto parts company’s stock worth $116,000 after purchasing an additional 400 shares during the period. Finally, Shell Asset Management Co. lifted its stake in Lear by 73.6% in the first quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock valued at $1,703,000 after purchasing an additional 4,984 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Up 0.3 %

Shares of LEA traded up $0.24 during midday trading on Wednesday, hitting $93.19. 49,273 shares of the company’s stock traded hands, compared to its average volume of 659,065. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. The firm’s fifty day moving average is $103.13 and its 200-day moving average is $113.24. Lear Co. has a 1 year low of $92.14 and a 1 year high of $147.11.

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 the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.87 EPS. As a group, sell-side analysts anticipate that Lear Co. will post 12.19 earnings per share for the current year.

Wall Street Analyst Weigh In

LEA has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Wolfe Research assumed coverage on Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. The Goldman Sachs Group cut their target price on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. TD Cowen lowered their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley lowered their price target on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.