Cipher Capital LP Has $5.53 Million Stake in Lear Corporation (LEA)
Cipher Capital LP increased its stake in Lear Corporation (NYSE:LEA) by 118.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,929 shares of the auto parts company’s stock after buying an additional 21,079 shares during the period. Cipher Capital LP owned 0.06% of Lear Corporation worth $5,531,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC increased its position in Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the period. Global X Management Co. LLC increased its position in Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp increased its position in Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.
Shares of Lear Corporation (NYSE LEA) opened at 151.24 on Friday. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $153.28. The stock has a 50 day moving average price of $146.07 and a 200 day moving average price of $143.18. The firm has a market capitalization of $10.29 billion, a PE ratio of 10.08 and a beta of 1.32.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the Zacks’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the company earned $3.66 EPS. Lear Corporation’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Lear Corporation will post $16.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, August 29th. Lear Corporation’s payout ratio is 13.28%.
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Several equities analysts recently commented on the company. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada restated a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a research report on Wednesday, July 12th. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Finally, Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $150.18.
Lear Corporation 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.
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