Janus Henderson Group PLC Boosts Stake in Lear Co. (LEA)

Janus Henderson Group PLC increased its position in Lear Co. (NYSE:LEA) by 25.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 138,740 shares of the auto parts company’s stock after purchasing an additional 28,450 shares during the period. Janus Henderson Group PLC’s holdings in Lear were worth $20,117,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LEA. Fort L.P. purchased a new stake in Lear during the 2nd quarter valued at approximately $113,000. Signet Financial Management LLC purchased a new stake in Lear during the 2nd quarter valued at approximately $131,000. Legacy Financial Advisors Inc. raised its stake in Lear by 250.2% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 956 shares of the auto parts company’s stock valued at $138,000 after acquiring an additional 683 shares during the last quarter. Daiwa SB Investments Ltd. raised its stake in Lear by 2,220.0% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 1,160 shares of the auto parts company’s stock valued at $168,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Lear during the 3rd quarter valued at approximately $184,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on LEA. Jefferies Financial Group began coverage on Lear in a research note on Tuesday. They set a “buy” rating and a $166.00 price objective for the company. ValuEngine raised Lear from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research raised Lear from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Morgan Stanley cut their target price on Lear from $214.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Finally, Buckingham Research cut their target price on Lear from $150.00 to $145.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Lear has a consensus rating of “Buy” and an average price target of $197.27.

Shares of LEA stock opened at $132.82 on Friday. The company has a market cap of $8.74 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. Lear Co. has a 12-month low of $128.05 and a 12-month high of $206.36. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.44.

Lear (NYSE:LEA) last issued its earnings results on Thursday, October 25th. The auto parts company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.06). The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.95 billion. Lear had a return on equity of 28.11% and a net margin of 6.14%. On average, equities research analysts expect that Lear Co. will post 18.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, December 6th. Lear’s dividend payout ratio is currently 16.47%.

In related news, Director Richard Harold Bott sold 789 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $135.13, for a total value of $106,617.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.43% of the company’s stock.

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Lear Profile

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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