Lear Corporation (NYSE:LEA) Position Increased by Boston Partners
Boston Partners increased its position in shares of Lear Corporation (NYSE:LEA) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 490,119 shares of the auto parts company’s stock after buying an additional 3,132 shares during the period. Boston Partners’ holdings in Lear Corporation were worth $69,636,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock worth $109,000 after buying an additional 148 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of 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 worth $111,000 after buying an additional 270 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC raised its position in shares of 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 worth $124,000 after buying an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Lear Corporation by 5.4% in the first 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. Hedge funds and other institutional investors own 97.57% of the company’s stock.
Lear Corporation (LEA) opened at 142.74 on Friday. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The firm has a market capitalization of $9.72 billion, a PE ratio of 9.51 and a beta of 1.32. The firm has a 50 day moving average of $145.26 and a 200 day moving average of $142.88.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.66 EPS. Equities analysts forecast that Lear Corporation will post $16.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.40%. Lear Corporation’s dividend payout ratio is currently 13.28%.
A number of brokerages recently issued reports on LEA. Royal Bank Of Canada reiterated a “hold” rating and issued a $149.00 target price on shares of Lear Corporation in a research report on Thursday, April 27th. BidaskClub lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Morgan Stanley lowered shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Finally, Zacks Investment Research upgraded shares of Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $148.64.
In other news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the transaction, the director now directly owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.
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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