Lear Corporation (LEA) Stake Decreased by Trust Investment Advisors
Trust Investment Advisors lessened its position in Lear Corporation (NYSE:LEA) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,065 shares of the auto parts company’s stock after selling 550 shares during the quarter. Lear Corporation makes up about 1.4% of Trust Investment Advisors’ investment portfolio, making the stock its 28th largest holding. Trust Investment Advisors’ holdings in Lear Corporation were worth $1,223,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Lear Corporation by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 6,409,081 shares of the auto parts company’s stock valued at $910,602,000 after purchasing an additional 158,042 shares during the period. LSV Asset Management lifted its stake in shares of Lear Corporation by 1.9% in the 2nd quarter. LSV Asset Management now owns 2,499,675 shares of the auto parts company’s stock valued at $355,153,000 after purchasing an additional 46,353 shares during the period. AJO LP lifted its stake in shares of Lear Corporation by 1.6% in the 2nd quarter. AJO LP now owns 1,654,084 shares of the auto parts company’s stock valued at $235,012,000 after purchasing an additional 25,444 shares during the period. Boston Partners lifted its stake in shares of Lear Corporation by 138.6% in the 3rd quarter. Boston Partners now owns 1,169,464 shares of the auto parts company’s stock valued at $202,411,000 after purchasing an additional 679,345 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Lear Corporation by 2.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 976,654 shares of the auto parts company’s stock valued at $138,763,000 after purchasing an additional 23,718 shares during the period. Institutional investors own 94.44% of the company’s stock.
In other news, SVP Mel Stephens sold 2,411 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $172.88, for a total value of $416,813.68. Following the completion of the transaction, the senior vice president now owns 44,484 shares in the company, valued at $7,690,393.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the completion of the transaction, the director now 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. Insiders sold 9,404 shares of company stock valued at $1,601,681 in the last 90 days. Company insiders own 0.49% of the company’s stock.
A number of research analysts have recently commented on LEA shares. Jefferies Group LLC started coverage on Lear Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 target price for the company. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. KeyCorp restated a “buy” rating and issued a $180.00 target price on shares of Lear Corporation in a research note on Sunday, September 17th. Robert W. Baird restated a “buy” rating and issued a $178.00 target price on shares of Lear Corporation in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Lear Corporation has a consensus rating of “Hold” and an average target price of $173.13.
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Lear Corporation (NYSE:LEA) traded down $1.07 during mid-day trading on Tuesday, hitting $174.36. The stock had a trading volume of 257,700 shares, compared to its average volume of 680,997. Lear Corporation has a 52-week low of $119.47 and a 52-week high of $178.80. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11,852.18, a PE ratio of 10.68, a P/E/G ratio of 1.46 and a beta of 1.44.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. analysts expect that Lear Corporation will post 16.84 EPS for the current year.
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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