Los Angeles Capital Management & Equity Research Inc. reduced its holdings in shares of Lear Corporation (NYSE:LEA) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,919 shares of the auto parts company’s stock after selling 28,166 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.07% of Lear Corporation worth $6,382,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Comerica Securities Inc. lifted its holdings in Lear Corporation by 36.6% during the first quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock worth $624,000 after acquiring an additional 1,180 shares during the period. Achmea Investment Management B.V. bought a new stake in Lear Corporation during the first quarter worth $3,302,000. Hillsdale Investment Management Inc. lifted its holdings in Lear Corporation by 3.2% during the first quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock worth $322,000 after acquiring an additional 70 shares during the period. Two Sigma Securities LLC bought a new stake in Lear Corporation during the first quarter worth $969,000. Finally, Global Financial Private Capital LLC bought a new stake in Lear Corporation during the first quarter worth $1,379,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
A number of analysts recently commented on the company. BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $157.00 price target on shares of Lear Corporation in a report on Wednesday, July 12th. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and lowered their target price for the company 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $150.18.
Shares of Lear Corporation (LEA) opened at 152.99 on Tuesday. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $153.83. The company’s 50 day moving average price is $146.49 and its 200-day moving average price is $143.49. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 10.19 and a beta of 1.31.
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 Zacks’ consensus estimate of $4.11 by $0.28. The firm had revenue of $5.12 billion for 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 company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $3.66 EPS. On average, 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. Stockholders of record on Thursday, August 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Lear Corporation’s dividend payout ratio (DPR) is currently 13.28%.
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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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