Simcoe Capital Management LLC Takes Position in Lear Co. (NYSE:LEA)

Simcoe Capital Management LLC bought a new stake in Lear Co. (NYSE:LEA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,825 shares of the auto parts company’s stock, valued at approximately $10,874,000. Lear accounts for approximately 4.3% of Simcoe Capital Management LLC’s portfolio, making the stock its 10th biggest position. Simcoe Capital Management LLC owned approximately 0.09% of Lear at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Lear by 2.5% in the second quarter. Vanguard Group Inc. now owns 6,409,081 shares of the auto parts company’s stock worth $910,602,000 after buying an additional 158,042 shares during the period. LSV Asset Management grew its position in shares of Lear by 1.9% during the second quarter. LSV Asset Management now owns 2,499,675 shares of the auto parts company’s stock worth $355,153,000 after purchasing an additional 46,353 shares in the last quarter. AJO LP grew its position in shares of Lear by 1.6% during the second quarter. AJO LP now owns 1,654,084 shares of the auto parts company’s stock worth $235,012,000 after purchasing an additional 25,444 shares in the last quarter. Boston Partners grew its position in shares of Lear by 138.6% during the third quarter. Boston Partners now owns 1,169,464 shares of the auto parts company’s stock worth $202,411,000 after purchasing an additional 679,345 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Lear by 2.5% during the second quarter. TIAA CREF Investment Management LLC now owns 976,654 shares of the auto parts company’s stock worth $138,763,000 after purchasing an additional 23,718 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Lear Co. (NYSE:LEA) traded down $2.93 during trading on Friday, reaching $176.66. The company’s stock had a trading volume of 332,097 shares, compared to its average volume of 406,640. The stock has a market cap of $12,133.23, a P/E ratio of 11.01, a PEG ratio of 1.50 and a beta of 1.43. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. Lear Co. has a twelve month low of $131.82 and a twelve month high of $181.46.

Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Lear had a return on equity of 31.79% and a net margin of 5.79%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. analysts expect that Lear Co. will post 16.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 8th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.13%. Lear’s payout ratio is 12.47%.

In other Lear news, EVP Terrence B. Larkin sold 1,137 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the sale, the executive vice president now directly owns 6,912 shares in the company, valued at approximately $1,228,538.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mel Stephens sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total value of $142,484.00. Following the completion of the sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at $7,160,000. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Several equities analysts have weighed in on the company. Barclays set a $171.00 price target on Lear and gave the company a “hold” rating in a report on Friday, October 20th. Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Wednesday, October 18th. Jefferies Group assumed coverage on Lear in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective for the company. KeyCorp reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Lear in a research note on Sunday, September 17th. Finally, UBS Group lowered Lear from a “buy” rating to a “neutral” rating and raised their price target for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $173.38.

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Lear Company Profile

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.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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