Stifel Financial Corp Has $8.57 Million Position in Lear Corporation (LEA)
Stifel Financial Corp lifted its stake in shares of Lear Corporation (NYSE:LEA) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,277 shares of the auto parts company’s stock after buying an additional 544 shares during the period. Stifel Financial Corp owned about 0.09% of Lear Corporation worth $8,565,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in shares of Lear Corporation during the first quarter valued at approximately $3,302,000. Deschutes Portfolio Strategy LLC boosted its position in shares of Lear Corporation by 21.9% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock valued at $316,000 after buying an additional 400 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in shares of Lear Corporation by 16.0% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 671,211 shares of the auto parts company’s stock valued at $95,365,000 after buying an additional 92,491 shares during the last quarter. Citigroup Inc. boosted its position in shares of Lear Corporation by 16.7% during the second quarter. Citigroup Inc. now owns 216,660 shares of the auto parts company’s stock valued at $30,783,000 after buying an additional 30,988 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of Lear Corporation during the first quarter valued at approximately $969,000. 94.30% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. UBS AG cut Lear Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the company from $158.00 to $182.00 in a research report on Tuesday. Jefferies Group LLC initiated coverage on Lear Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective on the stock. Buckingham Research cut Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Cowen and Company initiated coverage on Lear Corporation in a research report on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective on the stock. Finally, KeyCorp reissued a “buy” rating and issued a $180.00 price objective on shares of Lear Corporation in a research report on Sunday, September 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $161.47.
In related news, Director Henry D. G. Wallace sold 4,139 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now directly owns 4,100 shares of the company’s stock, valued at approximately $683,511. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan F. Foster sold 2,854 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the completion of the sale, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,404 shares of company stock worth $1,601,681. 0.49% of the stock is owned by insiders.
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Lear Corporation (LEA) opened at 175.97 on Thursday. The stock has a market capitalization of $11.98 billion, a P/E ratio of 11.72 and a beta of 1.35. The stock has a 50 day moving average price of $157.79 and a 200-day moving average price of $146.58. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $177.24.
Lear Corporation (NYSE:LEA) last released its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the firm earned $3.66 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Lear Corporation will post $16.56 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Thursday, August 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, August 29th. Lear Corporation’s payout ratio is 13.28%.
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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