Investec Asset Management LTD lifted its position in Lear Corporation (NYSE:LEA) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 607,040 shares of the auto parts company’s stock after purchasing an additional 49,426 shares during the quarter. Investec Asset Management LTD owned about 0.89% of Lear Corporation worth $86,248,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Lear Corporation by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 20 shares during the last quarter. Strs Ohio raised its stake in shares of Lear Corporation by 0.6% in the first quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock worth $685,000 after purchasing an additional 30 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Lear Corporation by 1.0% in the first quarter. TD Asset Management Inc. now owns 4,225 shares of the auto parts company’s stock worth $598,000 after purchasing an additional 40 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Lear Corporation by 0.3% in the second quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock worth $1,798,000 after purchasing an additional 40 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Lear Corporation by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
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Shares of Lear Corporation (NYSE:LEA) traded up 2.24% during mid-day trading on Friday, reaching $167.17. The company’s stock had a trading volume of 1,340,354 shares. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 11.14 and a beta of 1.31. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $167.67. The company’s 50 day moving average price is $148.17 and its 200-day moving average price is $144.07.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.66 EPS. Analysts predict that Lear Corporation will post $16.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.
Several research analysts recently weighed in on LEA shares. Morgan Stanley cut Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Barclays PLC lifted their price target on Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Robert W. Baird reiterated a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research report on Friday, September 1st. ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, BidaskClub upgraded Lear Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $152.67.
Lear Corporation 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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