ClariVest Asset Management LLC cut its position in shares of Lear Corporation (NYSE:LEA) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 290,111 shares of the auto parts company’s stock after selling 9,752 shares during the period. Lear Corporation comprises approximately 1.0% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 21st largest position. ClariVest Asset Management LLC owned approximately 0.43% of Lear Corporation worth $41,218,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Toronto Dominion Bank boosted its stake in Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC boosted its stake in Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the period. Global X Management Co. LLC boosted its stake in Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after buying an additional 51 shares during the period. Institutional investors own 97.57% of the company’s stock.
Lear Corporation (LEA) opened at 142.74 on Friday. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 9.51 and a beta of 1.32. The company’s 50-day moving average price is $145.26 and its 200-day moving average price is $142.88.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $3.66 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate 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. Shareholders of record on Thursday, August 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Lear Corporation’s dividend payout ratio is currently 13.28%.
Several research firms have recently commented on LEA. Royal Bank Of Canada restated a “hold” rating and set a $149.00 price target on shares of Lear Corporation in a research note on Thursday, April 27th. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Morgan Stanley cut Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $149.00 to $142.00 in a research note on Thursday, June 8th. Finally, Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $148.64.
In other Lear Corporation news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total value of $328,841.92. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by insiders.
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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