Public Employees Retirement Association of Colorado Has $1.92 Million Stake in Lear Corporation (NYSE:LEA)
Public Employees Retirement Association of Colorado lowered its stake in Lear Corporation (NYSE:LEA) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 13,477 shares of the auto parts company’s stock after selling 177 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Lear Corporation were worth $1,915,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Securities Inc. raised its position in shares of Lear Corporation by 36.6% in the first quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock valued at $624,000 after buying an additional 1,180 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Lear Corporation during the first quarter valued at about $3,302,000. Hillsdale Investment Management Inc. raised its position in shares of Lear Corporation by 3.2% in the first quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock valued at $322,000 after buying an additional 70 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Lear Corporation during the first quarter valued at about $969,000. Finally, Clinton Group Inc. raised its position in shares of Lear Corporation by 156.8% in the first quarter. Clinton Group Inc. now owns 46,943 shares of the auto parts company’s stock valued at $6,646,000 after buying an additional 28,663 shares in the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.
Shares of Lear Corporation (NYSE LEA) opened at 141.89 on Friday. The firm has a market capitalization of $9.66 billion, a P/E ratio of 9.45 and a beta of 1.32. The stock has a 50 day moving average price of $145.12 and a 200 day moving average price of $142.87. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $153.28.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) 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 the consensus estimate of $4.89 billion. During the same period in the prior year, the firm earned $3.66 earnings per share. Lear Corporation’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that Lear Corporation will post $16.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. Lear Corporation’s payout ratio is currently 13.28%.
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Several research analysts recently issued reports on LEA shares. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $149.00 to $142.00 in a research report on Thursday, June 8th. Barclays PLC raised their target price on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. 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 $149.00 target price on shares of Lear Corporation in a research report on Thursday, April 27th. Finally, Zacks Investment Research raised Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $148.64.
In related news, Director Greg C. Smith sold 2,266 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $145.12, for a total value of $328,841.92. Following the completion of the transaction, the director now directly owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.49% of the stock is owned by corporate insiders.
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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