WINTON GROUP Ltd Sells 9,156 Shares of Lear Corporation (LEA)
WINTON GROUP Ltd cut its stake in shares of Lear Corporation (NYSE:LEA) by 63.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,312 shares of the auto parts company’s stock after selling 9,156 shares during the quarter. WINTON GROUP Ltd’s holdings in Lear Corporation were worth $755,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Lear Corporation by 6.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 48 shares during the period. Global X Management Co. LLC lifted its stake in shares of Lear Corporation by 30.3% in the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after purchasing an additional 204 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in shares of Lear Corporation in the 2nd quarter valued at about $126,000. Parallel Advisors LLC lifted its stake in shares of Lear Corporation by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after purchasing an additional 42 shares during the period. Finally, Systematic Financial Management LP lifted its stake in shares of Lear Corporation by 144.0% in the 2nd quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock valued at $217,000 after purchasing an additional 900 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Lear Corporation news, Director Jonathan F. Foster sold 2,854 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 7,761 shares of the company’s stock, valued at $1,345,679.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 9,404 shares of company stock valued at $1,601,681 in the last ninety days. Insiders own 0.49% of the company’s stock.
Shares of Lear Corporation (NYSE LEA) opened at 173.74 on Friday. The firm’s 50-day moving average price is $167.53 and its 200-day moving average price is $149.44. Lear Corporation has a one year low of $112.46 and a one year high of $177.24. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 11.58 and a beta of 1.35.
Lear Corporation (NYSE:LEA) last announced its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating 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 business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm earned $3.66 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Lear Corporation will post $16.59 earnings per share for the current year.
A number of brokerages have recently issued reports on LEA. Barclays PLC set a $171.00 price objective on Lear Corporation and gave the company a “hold” rating in a research note on Friday. UBS AG downgraded Lear Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $158.00 to $182.00 in a research note on Tuesday, October 3rd. KeyCorp boosted their price objective on Lear Corporation from $180.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research raised Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research note on Wednesday. Finally, Jefferies Group LLC began coverage on Lear Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $168.87.
About Lear Corporation
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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