Verition Fund Management LLC trimmed its holdings in shares of Lear Co. (NYSE:LEA) by 21.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,961 shares of the auto parts company’s stock after selling 546 shares during the period. Verition Fund Management LLC’s holdings in Lear were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. World Asset Management Inc increased its position in shares of Lear by 1.9% during the second quarter. World Asset Management Inc now owns 4,907 shares of the auto parts company’s stock valued at $535,000 after acquiring an additional 92 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Lear by 1.8% during the second quarter. D.A. Davidson & CO. now owns 6,713 shares of the auto parts company’s stock valued at $732,000 after acquiring an additional 120 shares during the last quarter. First Mercantile Trust Co. grew its holdings in Lear by 6.7% during the first quarter. First Mercantile Trust Co. now owns 2,094 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 131 shares during the period. Smith Graham & Co. Investment Advisors LP grew its holdings in Lear by 0.4% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 35,042 shares of the auto parts company’s stock valued at $3,820,000 after purchasing an additional 138 shares during the period. Finally, FinTrust Capital Advisors LLC grew its holdings in Lear by 109.9% during the first quarter. FinTrust Capital Advisors LLC now owns 403 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 211 shares during the period. 94.65% of the stock is owned by institutional investors.

NYSE:LEA opened at $123.55 on Wednesday. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 6.21 and a beta of 1.63. Lear Co. has a 52-week low of $63.20 and a 52-week high of $143.50. The stock has a fifty day moving average of $116.32 and a 200 day moving average of $104.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.26.

Lear (NYSE:LEA) last released its quarterly earnings results on Tuesday, August 4th. The auto parts company reported ($4.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($4.98) by $0.84. Lear had a return on equity of 5.95% and a net margin of 0.75%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $3.78 earnings per share. The company’s revenue for the quarter was down 51.2% on a year-over-year basis. Equities analysts forecast that Lear Co. will post 2.8 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. Credit Suisse Group increased their price objective on Lear from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on Lear from $100.00 to $109.00 and gave the company a “neutral” rating in a report on Friday, June 19th. Deutsche Bank increased their price objective on Lear from $133.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley increased their price objective on Lear from $86.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Finally, Barclays increased their price objective on Lear from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $113.81.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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