Lear Corporation (LEA) Holdings Reduced by Comerica Bank
Comerica Bank decreased its holdings in shares of Lear Corporation (NYSE:LEA) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,202 shares of the auto parts company’s stock after selling 1,060 shares during the period. Comerica Bank’s holdings in Lear Corporation were worth $1,325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Comerica Securities Inc. raised its position in Lear Corporation by 36.6% during the 1st quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock valued at $624,000 after purchasing an additional 1,180 shares during the last quarter. Achmea Investment Management B.V. bought a new position in Lear Corporation during the 1st quarter valued at approximately $3,302,000. Hillsdale Investment Management Inc. raised its position in Lear Corporation by 3.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock valued at $322,000 after purchasing an additional 70 shares during the last quarter. Two Sigma Securities LLC bought a new position in Lear Corporation during the 1st quarter valued at approximately $969,000. Finally, Global Financial Private Capital LLC bought a new position in Lear Corporation during the 1st quarter valued at approximately $1,379,000. 94.33% of the stock is owned by institutional investors and hedge funds.
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Lear Corporation (LEA) opened at 167.17 on Friday. The stock has a 50 day moving average price of $148.17 and a 200 day moving average price of $144.07. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $167.67. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 11.14 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.28. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. Lear Corporation’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.66 earnings per share. Analysts anticipate that Lear Corporation will post $16.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. Lear Corporation’s payout ratio is 13.28%.
A number of research firms have commented on LEA. BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $157.00 price target on shares of Lear Corporation in a research report on Wednesday, July 12th. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Finally, Zacks Investment Research raised Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock has an average 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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