Lear Co. (NYSE:LEA) Shares Acquired by World Asset Management Inc

World Asset Management Inc raised its holdings in shares of Lear Co. (NYSE:LEA) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,037 shares of the auto parts company’s stock after purchasing an additional 91 shares during the period. World Asset Management Inc’s holdings in Lear were worth $423,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Lear by 80.3% during the first quarter. FMR LLC now owns 1,312,921 shares of the auto parts company’s stock worth $178,176,000 after purchasing an additional 584,719 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lear by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,040,569 shares of the auto parts company’s stock valued at $127,843,000 after acquiring an additional 27,314 shares during the period. Investec Asset Management LTD increased its position in shares of Lear by 1.2% in the 1st quarter. Investec Asset Management LTD now owns 680,784 shares of the auto parts company’s stock valued at $92,389,000 after acquiring an additional 8,207 shares during the period. Bank of Montreal Can increased its position in shares of Lear by 7.5% in the 1st quarter. Bank of Montreal Can now owns 354,143 shares of the auto parts company’s stock valued at $48,060,000 after acquiring an additional 24,600 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Lear by 42.8% in the 1st quarter. JPMorgan Chase & Co. now owns 351,593 shares of the auto parts company’s stock valued at $47,713,000 after acquiring an additional 105,433 shares during the period. 90.95% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on LEA. Credit Suisse Group cut their target price on Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. ValuEngine downgraded Lear from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Morgan Stanley set a $165.00 target price on Lear and gave the company a “buy” rating in a research report on Wednesday, June 26th. Royal Bank of Canada downgraded Lear from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $160.00 to $135.00 in a research report on Wednesday, July 17th. Finally, Barclays reissued a “hold” rating and issued a $117.00 target price on shares of Lear in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $158.60.

LEA traded down $2.28 during midday trading on Monday, hitting $118.65. 6,856 shares of the company were exchanged, compared to its average volume of 670,712. The business has a 50 day moving average of $133.90. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 3.18 and a beta of 1.50. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Lear Co. has a 1-year low of $114.45 and a 1-year high of $180.07.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $3.82 by ($0.04). The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. Lear’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.95 earnings per share. On average, research analysts anticipate that Lear Co. will post 15.22 EPS for the current fiscal year.

Lear Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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