Sigma Planning Corp reduced its position in shares of Lear Corporation (NYSE:LEA) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,293 shares of the auto parts company’s stock after selling 293 shares during the period. Sigma Planning Corp’s holdings in Lear Corporation were worth $916,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Koch Industries Inc. purchased a new stake in Lear Corporation during the 2nd quarter worth approximately $485,000. Old Mutual Global Investors UK Ltd. increased its stake in Lear Corporation by 16.0% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 671,211 shares of the auto parts company’s stock worth $95,365,000 after buying an additional 92,491 shares in the last quarter. Citigroup Inc. increased its stake in Lear Corporation by 16.7% during the 2nd quarter. Citigroup Inc. now owns 216,660 shares of the auto parts company’s stock worth $30,783,000 after buying an additional 30,988 shares in the last quarter. Deschutes Portfolio Strategy LLC increased its stake in Lear Corporation by 21.9% during the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock worth $316,000 after buying an additional 400 shares in the last quarter. Finally, Paradice Investment Management LLC increased its stake in Lear Corporation by 4.0% during the 2nd quarter. Paradice Investment Management LLC now owns 438,790 shares of the auto parts company’s stock worth $62,343,000 after buying an additional 16,900 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
In related news, Director Jonathan F. Foster sold 2,854 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the transaction, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mel Stephens sold 2,411 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $172.88, for a total value of $416,813.68. Following the completion of the transaction, the senior vice president now owns 44,484 shares in the company, valued at $7,690,393.92. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock worth $1,601,681 over the last quarter. 0.49% of the stock is currently owned by insiders.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.16. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. equities analysts predict that Lear Corporation will post 16.84 earnings per share for the current year.
Several equities research analysts have commented on LEA shares. Robert W. Baird reiterated a “buy” rating and set a $178.00 price objective on shares of Lear Corporation in a research note on Friday, September 1st. Guggenheim lowered Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 price objective for the company. in a research note on Thursday, October 26th. Deutsche Bank AG boosted their target price on Lear Corporation from $167.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Cowen and Company restated a “buy” rating and set a $196.00 target price on shares of Lear Corporation in a report on Friday, October 27th. 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 report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Lear Corporation presently has an average rating of “Hold” and an average price target of $173.13.
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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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