SG Americas Securities LLC Has $6.66 Million Stake in Lear Corporation (LEA)
SG Americas Securities LLC raised its stake in Lear Corporation (NYSE:LEA) by 2,002.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,875 shares of the auto parts company’s stock after buying an additional 44,645 shares during the period. SG Americas Securities LLC’s holdings in Lear Corporation were worth $6,660,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEA. Baystate Wealth Management LLC boosted its position in Lear Corporation by 0.9% in the first quarter. Baystate Wealth Management LLC now owns 1,095 shares of the auto parts company’s stock valued at $145,000 after buying an additional 10 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Lear Corporation by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock valued at $223,000 after buying an additional 20 shares in the last quarter. IFP Advisors Inc boosted its position in Lear Corporation by 1.8% in the first quarter. IFP Advisors Inc now owns 1,393 shares of the auto parts company’s stock valued at $197,000 after buying an additional 25 shares in the last quarter. Strs Ohio boosted its position in Lear Corporation by 0.6% in the first quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock valued at $685,000 after buying an additional 30 shares in the last quarter. Finally, TD Asset Management Inc. boosted its position in Lear Corporation by 1.0% in the first quarter. TD Asset Management Inc. now owns 4,225 shares of the auto parts company’s stock valued at $598,000 after buying an additional 40 shares in the last quarter. 96.59% of the stock is owned by institutional investors and hedge funds.
Shares of Lear Corporation (LEA) opened at 145.46 on Thursday. The company has a 50 day moving average price of $145.77 and a 200-day moving average price of $142.88. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $153.28. The firm has a market capitalization of $9.90 billion, a PE ratio of 9.69 and a beta of 1.32.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.66 earnings per share. Equities research analysts expect that Lear Corporation will post $16.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors 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 1.37%. Lear Corporation’s payout ratio is 13.28%.
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Several research analysts have recently issued reports on the company. Robert W. Baird raised Lear Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $161.00 in a research report on Thursday, April 20th. Zacks Investment Research cut Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $157.00 price objective on shares of Lear Corporation in a research report on Wednesday, July 12th. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Guggenheim assumed coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $148.64.
In related news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the sale, the director now owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by 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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