Lear Corporation (LEA) Shares Bought by Sterling Capital Management LLC
Sterling Capital Management LLC lifted its stake in Lear Corporation (NYSE:LEA) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,022 shares of the auto parts company’s stock after purchasing an additional 140 shares during the period. Sterling Capital Management LLC’s holdings in Lear Corporation were worth $3,413,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of LEA. BlackRock Inc. lifted its position in shares of Lear Corporation by 1,617.8% in the 1st quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock worth $1,007,136,000 after purchasing an additional 6,699,449 shares during the period. Balyasny Asset Management LLC lifted its position in shares of Lear Corporation by 7,465.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after purchasing an additional 706,708 shares during the period. Ardevora Asset Management LLP purchased a new stake in shares of Lear Corporation in the 2nd quarter worth about $34,540,000. Harbour Capital Advisors LLC lifted its position in shares of Lear Corporation by 14,108.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock worth $1,575,000 after purchasing an additional 222,201 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Lear Corporation by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 6,251,039 shares of the auto parts company’s stock worth $885,022,000 after purchasing an additional 173,513 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Lear Corporation (NYSE LEA) traded up 0.08% on Monday, reaching $173.51. 30,852 shares of the company were exchanged. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 11.56 and a beta of 1.35. The company’s 50-day moving average is $164.19 and its 200-day moving average is $148.37. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $177.24.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping 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 company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm earned $3.66 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Lear Corporation will post $16.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Thursday, August 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
Several research firms have recently commented on LEA. UBS AG cut shares of Lear Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $158.00 to $182.00 in a research report on Tuesday, October 3rd. Jefferies Group LLC began coverage on shares of Lear Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $197.00 target price for the company. Buckingham Research cut shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 target price for the company. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. KeyCorp raised their target price on shares of Lear Corporation from $180.00 to $184.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cowen and Company began coverage on shares of Lear Corporation in a research report on Monday, September 25th. They issued an “outperform” rating and a $195.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $165.64.
In other Lear Corporation news, Director Henry D. G. Wallace sold 4,139 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the sale, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mel Stephens sold 2,411 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $172.88, for a total transaction of $416,813.68. Following the sale, the senior vice president now directly owns 44,484 shares of the company’s stock, valued at $7,690,393.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,404 shares of company stock valued at $1,601,681. 0.49% of the stock is owned by insiders.
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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