Hartford Investment Management Co. Has $210,000 Position in Lear Corp. (LEA)
Hartford Investment Management Co. boosted its stake in shares of Lear Corp. (NYSE:LEA) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,067 shares of the company’s stock after buying an additional 243 shares during the period. Hartford Investment Management Co.’s holdings in Lear Corp. were worth $210,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC increased its position in Lear Corp. by 3.1% in the first quarter. Aperio Group LLC now owns 29,118 shares of the company’s stock valued at $3,237,000 after buying an additional 876 shares during the last quarter. New Century Investment Management Inc. boosted its stake in shares of Lear Corp. by 0.8% in the first quarter. New Century Investment Management Inc. now owns 5,577 shares of the company’s stock valued at $620,000 after buying an additional 42 shares during the period. Quantitative Systematic Strategies LLC boosted its stake in shares of Lear Corp. by 65.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 5,665 shares of the company’s stock valued at $632,000 after buying an additional 2,244 shares during the period. PGGM Investments boosted its stake in shares of Lear Corp. by 23.0% in the first quarter. PGGM Investments now owns 255,873 shares of the company’s stock valued at $28,445,000 after buying an additional 47,766 shares during the period. Finally, Saddle Road Partners LLC boosted its stake in shares of Lear Corp. by 8.8% in the first quarter. Saddle Road Partners LLC now owns 4,946 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the period. 94.90% of the stock is currently owned by institutional investors.
Lear Corp. (NYSE:LEA) traded up 0.30% during mid-day trading on Friday, reaching $117.30. The company had a trading volume of 809,890 shares. Lear Corp. has a 12-month low of $93.54 and a 12-month high of $127.00. The firm has a 50-day moving average price of $114.42 and a 200 day moving average price of $112.02. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 9.39 and a beta of 1.25.
Lear Corp. (NYSE:LEA) last released its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that Lear Corp. will post $13.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
Several brokerages recently issued reports on LEA. Zacks Investment Research upgraded Lear Corp. from a “sell” rating to a “hold” rating and set a $127.00 price target for the company in a research note on Tuesday, August 2nd. Seaport Global Securities initiated coverage on Lear Corp. in a research note on Tuesday, August 9th. They set a “neutral” rating for the company. Citigroup Inc. upped their target price on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Barclays PLC set a $127.00 target price on Lear Corp. and gave the stock a “hold” rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $128.11.
Lear Corp. 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 operates through two segments: seating and electrical.
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