Waterfront Wealth Inc. Boosts Stake in Lear Corporation $LEA

Waterfront Wealth Inc. lifted its position in Lear Corporation (NYSE:LEA) by 11.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,648 shares of the auto parts company’s stock after purchasing an additional 1,650 shares during the quarter. Waterfront Wealth Inc.’s holdings in Lear were worth $1,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LEA. Hunter Perkins Capital Management LLC grew its position in Lear by 0.8% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 13,846 shares of the auto parts company’s stock worth $1,315,000 after acquiring an additional 107 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Lear by 2.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company’s stock valued at $585,000 after purchasing an additional 121 shares during the period. SummerHaven Investment Management LLC lifted its position in Lear by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company’s stock valued at $661,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. boosted its position in shares of Lear by 100.0% in the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 227 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in shares of Lear by 2.3% in the first quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company’s stock worth $947,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Up 1.4%

Shares of NYSE LEA opened at $103.20 on Wednesday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $113.10. The stock has a 50 day moving average price of $104.24 and a 200 day moving average price of $97.42.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd were issued a $0.77 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $3.08 annualized dividend and a dividend yield of 3.0%. Lear’s payout ratio is currently 35.94%.

Wall Street Analysts Forecast Growth

LEA has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Lear from $113.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. The Goldman Sachs Group set a $104.00 price objective on Lear in a research note on Monday, September 29th. Barclays boosted their price objective on Lear from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Bank of America cut shares of Lear from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $123.00 in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.00.

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 in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.