Axa grew its stake in Lear Corporation (NYSE:LEA) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,419 shares of the auto parts company’s stock after acquiring an additional 5,500 shares during the quarter. Axa owned about 0.17% of Lear Corporation worth $16,256,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in LEA. Strs Ohio increased its holdings in shares of Lear Corporation by 0.6% in the 1st quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock valued at $685,000 after acquiring an additional 30 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Lear Corporation by 9.6% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,146 shares of the auto parts company’s stock valued at $728,000 after acquiring an additional 451 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Lear Corporation by 0.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 45,654 shares of the auto parts company’s stock valued at $6,454,000 after acquiring an additional 162 shares during the period. Comerica Bank increased its holdings in shares of Lear Corporation by 5.4% in the 1st quarter. Comerica Bank now owns 10,262 shares of the auto parts company’s stock valued at $1,463,000 after acquiring an additional 522 shares during the period. Finally, World Asset Management Inc increased its holdings in shares of Lear Corporation by 15.7% in the 1st quarter. World Asset Management Inc now owns 3,619 shares of the auto parts company’s stock valued at $512,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.
Shares of Lear Corporation (NYSE LEA) opened at 151.00 on Monday. The stock has a market cap of $10.28 billion, a P/E ratio of 10.06 and a beta of 1.31. The firm’s 50-day moving average price is $146.44 and its 200 day moving average price is $143.48. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $153.83.
Lear Corporation (NYSE:LEA) last posted its quarterly 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 return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm earned $3.66 earnings per share. Lear Corporation’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that Lear Corporation will post $16.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, August 29th. Lear Corporation’s dividend payout ratio is presently 13.28%.
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A number of research analysts have recently issued reports on LEA shares. Guggenheim started coverage on Lear Corporation in a report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price target on the stock. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Robert W. Baird restated a “buy” rating and set a $178.00 target price on shares of Lear Corporation in a research note on Friday, September 1st. Finally, Barclays PLC boosted their target price on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $150.18.
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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