California Public Employees Retirement System Acquires 5,584 Shares of Lear Co. (NYSE:LEA)

California Public Employees Retirement System grew its holdings in shares of Lear Co. (NYSE:LEA) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 166,708 shares of the auto parts company’s stock after purchasing an additional 5,584 shares during the period. California Public Employees Retirement System’s holdings in Lear were worth $19,655,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC raised its holdings in shares of Lear by 46.9% during the 2nd quarter. Pzena Investment Management LLC now owns 3,834,303 shares of the auto parts company’s stock valued at $534,003,000 after purchasing an additional 1,223,567 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lear by 6.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 476,078 shares of the auto parts company’s stock valued at $66,304,000 after purchasing an additional 27,149 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Lear by 482.8% during the 2nd quarter. Invesco Ltd. now owns 414,921 shares of the auto parts company’s stock valued at $57,786,000 after purchasing an additional 343,724 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Lear by 1,220.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 391,246 shares of the auto parts company’s stock valued at $54,489,000 after purchasing an additional 361,624 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Lear by 83.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 359,839 shares of the auto parts company’s stock valued at $50,115,000 after purchasing an additional 163,646 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Shares of LEA opened at $129.11 on Friday. The company has a market capitalization of $7.83 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. Lear Co. has a one year low of $105.10 and a one year high of $160.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.08. The company’s fifty day moving average price is $118.73 and its 200 day moving average price is $126.29.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, October 25th. The auto parts company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.40. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.76 billion. Lear had a net margin of 4.21% and a return on equity of 22.07%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $4.09 EPS. Analysts anticipate that Lear Co. will post 13.61 earnings per share for the current year.

A number of research analysts have recently weighed in on the stock. Credit Suisse Group cut their price target on shares of Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Buckingham Research dropped their target price on shares of Lear from $140.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. UBS Group downgraded shares of Lear from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $158.00 to $135.00 in a report on Thursday, September 12th. Morgan Stanley dropped their target price on shares of Lear from $165.00 to $143.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Barclays dropped their target price on shares of Lear from $117.00 to $107.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Lear currently has a consensus rating of “Hold” and an average price target of $151.07.

About Lear

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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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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