Lear Corporation (LEA) Position Raised by HighTower Advisors LLC
HighTower Advisors LLC boosted its holdings in Lear Corporation (NYSE:LEA) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,504 shares of the auto parts company’s stock after purchasing an additional 154 shares during the quarter. HighTower Advisors LLC owned about 0.07% of Lear Corporation worth $6,334,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its stake in Lear Corporation by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Lear Corporation by 30.3% during the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after buying an additional 204 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Lear Corporation by 5.4% during the 1st quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Lear Corporation during the 1st quarter worth approximately $149,000. Finally, Mutual of America Capital Management LLC bought a new position in shares of Lear Corporation during the 1st quarter worth approximately $157,000. Institutional investors and hedge funds own 94.30% of the company’s stock.
LEA has been the subject of several research analyst reports. Jefferies Group LLC assumed coverage on shares of Lear Corporation in a research note on Thursday. They issued a “buy” rating and a $197.00 price objective for the company. Buckingham Research lowered shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 target price on the stock. in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Cowen and Company began coverage on shares of Lear Corporation in a research note on Monday, September 25th. They set an “outperform” rating and a $195.00 target price on the stock. KeyCorp restated a “buy” rating and issued a $180.00 price target on shares of Lear Corporation in a report on Sunday, September 17th. Finally, Morgan Stanley cut shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $149.00 to $142.00 in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $159.93.
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Shares of Lear Corporation (NYSE:LEA) traded up 0.40% during mid-day trading on Monday, hitting $173.77. The stock had a trading volume of 21,291 shares. The firm has a market cap of $11.83 billion, a PE ratio of 11.58 and a beta of 1.35. Lear Corporation has a 52-week low of $110.77 and a 52-week high of $174.66. The stock’s 50-day moving average price is $149.19 and its 200-day moving average price is $144.41.
Lear Corporation (NYSE:LEA) last announced its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm earned $3.66 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that Lear Corporation will post $16.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. Lear Corporation’s dividend payout ratio is currently 13.28%.
In related news, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the transaction, the director now owns 4,100 shares of the company’s stock, valued at approximately $683,511. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan F. Foster sold 2,854 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total value of $494,855.06. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,404 shares of company stock worth $1,601,681. Insiders own 0.49% of the company’s stock.
Lear Corporation 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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