Prospera Financial Services Inc lowered its stake in shares of Lear Corporation (NYSE:LEA) by 28.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,004 shares of the auto parts company’s stock after selling 792 shares during the period. Prospera Financial Services Inc’s holdings in Lear Corporation were worth $283,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in LEA. Toronto Dominion Bank increased its position in shares of 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of 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 worth $111,000 after buying an additional 270 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC increased its position in shares of 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 worth $124,000 after buying an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares in the last quarter. 96.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Lear Corporation (LEA) traded down 0.30% during midday trading on Tuesday, hitting $144.00. 646,547 shares of the stock traded hands. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $153.28. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 9.59 and a beta of 1.32. The firm’s 50-day moving average is $145.56 and its 200 day moving average is $142.86.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $3.66 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Lear Corporation will post $16.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders 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 1.39%. Lear Corporation’s payout ratio is 13.28%.
LEA has been the subject of a number of research analyst reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $134.00 target price (down from $138.00) on shares of Lear Corporation in a research note on Saturday, April 22nd. Zacks Investment Research downgraded shares of Lear Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Seaport Global Securities raised shares of Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Thursday, May 4th. Bank of America Corporation downgraded shares of Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $135.00 to $110.00 in a research note on Friday, June 16th. Finally, Guggenheim initiated coverage on shares of Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $148.64.
In other Lear Corporation news, Director Greg C. Smith sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the transaction, the director now owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by company 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.
Receive News & Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
