Point72 Hong Kong Ltd Has $222,000 Holdings in Lear Co. (NYSE:LEA)
Point72 Hong Kong Ltd lessened its position in Lear Co. (NYSE:LEA) by 52.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,619 shares of the auto parts company’s stock after selling 1,778 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Lear were worth $222,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its position in Lear by 19.3% during the 4th quarter. AQR Capital Management LLC now owns 1,080,947 shares of the auto parts company’s stock worth $148,306,000 after purchasing an additional 174,751 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in Lear by 41.5% during the fourth quarter. Simon Quick Advisors LLC now owns 566 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 166 shares during the period. CX Institutional increased its position in Lear by 3.4% during the fourth quarter. CX Institutional now owns 6,896 shares of the auto parts company’s stock worth $946,000 after buying an additional 227 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Lear by 0.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,827 shares of the auto parts company’s stock worth $35,511,000 after buying an additional 1,417 shares during the last quarter. Finally, Man Group plc increased its position in Lear by 27.8% during the third quarter. Man Group plc now owns 80,491 shares of the auto parts company’s stock worth $9,490,000 after buying an additional 17,529 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.
LEA has been the subject of a number of recent analyst reports. Cleveland Research initiated coverage on Lear in a research report on Friday, February 28th. They issued a “neutral” rating for the company. Morgan Stanley decreased their target price on Lear from $153.00 to $97.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Royal Bank of Canada dropped their price target on Lear from $161.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank cut their price target on Lear from $136.00 to $134.00 and set a “hold” rating for the company in a report on Thursday, January 30th. Finally, Bank of America raised shares of Lear from an “underperform” rating to a “buy” rating in a research report on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $132.00.
Lear (NYSE:LEA) last released its quarterly earnings results on Tuesday, January 28th. The auto parts company reported $2.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.64. Lear had a return on equity of 19.61% and a net margin of 3.80%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the company posted $4.05 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Lear Co. will post 12.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Friday, February 28th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Lear’s previous quarterly dividend of $0.75. Lear’s dividend payout ratio (DPR) is currently 22.02%.
Lear Company 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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