Lingohr & Partner Asset Management GmbH Trims Holdings in Lear Co. (LEA)
Lingohr & Partner Asset Management GmbH lowered its position in Lear Co. (NYSE:LEA) by 16.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,169 shares of the auto parts company’s stock after selling 1,229 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in Lear were worth $895,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Fort L.P. bought a new stake in shares of Lear in the 2nd quarter worth approximately $113,000. Townsend & Associates Inc bought a new position in shares of Lear during the 2nd quarter worth approximately $113,000. Squar Milner Financial Services LLC bought a new position in shares of Lear during the 2nd quarter worth approximately $130,000. Signet Financial Management LLC bought a new position in shares of Lear during the 2nd quarter worth approximately $131,000. Finally, Atlantic Trust Group LLC lifted its position 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 worth $152,000 after buying an additional 472 shares during the period. Institutional investors own 91.17% of the company’s stock.
Shares of LEA opened at $134.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.44. Lear Co. has a 52-week low of $130.55 and a 52-week high of $206.36. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 7.33 and a beta of 1.34.
Several equities analysts recently commented on LEA shares. Citigroup cut their target price on Lear from $243.00 to $234.00 and set a “buy” rating for the company in a research report on Monday, July 30th. Robert W. Baird restated a “buy” rating and set a $243.00 target price on shares of Lear in a research report on Friday, July 27th. Longbow Research restated a “buy” rating and set a $225.00 target price on shares of Lear in a research report on Thursday, July 26th. Goldman Sachs Group upgraded Lear from a “neutral” rating to a “buy” rating and set a $195.00 target price for the company in a research report on Thursday, October 11th. Finally, Zacks Investment Research upgraded Lear from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $204.38.
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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