Parametrica Management Ltd Acquires Shares of 1,573 Lear Corporation (LEA)
Parametrica Management Ltd acquired a new position in shares of Lear Corporation (NYSE:LEA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,573 shares of the auto parts company’s stock, valued at approximately $272,000.
Several other large investors have also added to or reduced their stakes in the company. Balyasny Asset Management LLC lifted its holdings in Lear Corporation by 7,465.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock valued at $101,754,000 after purchasing an additional 706,708 shares during the last quarter. Koch Industries Inc. acquired a new stake in Lear Corporation in the 2nd quarter valued at about $485,000. Ardevora Asset Management LLP acquired a new stake in Lear Corporation in the 2nd quarter valued at about $34,540,000. Harbour Capital Advisors LLC increased its position in Lear Corporation by 14,108.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock valued at $1,575,000 after acquiring an additional 222,201 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Lear Corporation by 25.3% in the 3rd quarter. APG Asset Management N.V. now owns 788,621 shares of the auto parts company’s stock valued at $136,495,000 after acquiring an additional 159,000 shares in the last quarter. 94.49% of the stock is owned by institutional investors.
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Several brokerages have recently commented on LEA. Robert W. Baird reiterated a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research report on Friday, September 1st. Guggenheim cut shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 price target for the company. in a research report on Thursday, October 26th. Deutsche Bank AG lifted their price target on shares of Lear Corporation from $167.00 to $176.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Cowen and Company reiterated a “buy” rating and set a $196.00 price target on shares of Lear Corporation in a research report on Friday, October 27th. Finally, Barclays PLC lifted their price target on shares of Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Lear Corporation presently has a consensus rating of “Hold” and a consensus target price of $173.13.
Shares of Lear Corporation (LEA) opened at $175.79 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.47 and a beta of 1.44. Lear Corporation has a 1 year low of $112.54 and a 1 year high of $178.80.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.80 by $0.16. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.84 billion. Lear Corporation had a net margin of 5.79% and a return on equity of 31.79%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. research analysts forecast that Lear Corporation will post 16.84 EPS for the current year.
In related news, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the transaction, the director now directly owns 4,100 shares in the company, valued at $683,511. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mel Stephens sold 2,411 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $172.88, for a total transaction of $416,813.68. Following the transaction, the senior vice president now owns 44,484 shares in the company, valued at $7,690,393.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,404 shares of company stock worth $1,601,681. 0.49% of the stock is owned by corporate insiders.
About Lear Corporation
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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