ClariVest Asset Management LLC reduced its stake in shares of Lear Corporation (NYSE:LEA) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,028 shares of the auto parts company’s stock after selling 12,083 shares during the quarter. Lear Corporation accounts for approximately 1.1% of ClariVest Asset Management LLC’s portfolio, making the stock its 17th largest holding. ClariVest Asset Management LLC owned about 0.41% of Lear Corporation worth $48,121,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Lear Corporation by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Lear Corporation by 10.9% during the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 84 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Lear Corporation during the second quarter worth about $126,000. Global X Management Co. LLC boosted its holdings in shares of Lear Corporation by 16.5% during the second quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 145 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Lear Corporation by 3.9% during 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 period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the transaction, the director now directly owns 4,100 shares in the company, valued at $683,511. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of Lear Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the transaction, the director now owns 7,761 shares of the company’s stock, valued at $1,345,679.79. The disclosure for this sale can be found here. Insiders have sold 9,404 shares of company stock valued at $1,601,681 over the last quarter. Company insiders own 0.49% of the company’s stock.
Lear Corporation (NYSE:LEA) last released its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a net margin of 5.79% and a return on equity of 31.79%. The firm had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the business earned $3.19 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. analysts forecast that Lear Corporation will post 16.84 earnings per share for the current year.
LEA has been the subject of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and set a $178.00 target price on shares of Lear Corporation in a report on Friday, September 1st. Guggenheim lowered shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a report on Thursday, October 26th. Deutsche Bank AG increased their target price on shares of 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 reiterated 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 increased their target price on shares of 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 given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $173.13.
Lear Corporation Company 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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