Charles Schwab Investment Management Inc. trimmed its holdings in shares of Lear Co. (NYSE:LEA) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 332,861 shares of the auto parts company’s stock after selling 9,223 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.56% of Lear worth $36,289,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mork Capital Management LLC boosted its stake in shares of Lear by 28.2% during the 2nd quarter. Mork Capital Management LLC now owns 10,900 shares of the auto parts company’s stock worth $1,188,000 after acquiring an additional 2,400 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Lear by 0.7% during the second quarter. Great West Life Assurance Co. Can now owns 159,951 shares of the auto parts company’s stock worth $17,399,000 after purchasing an additional 1,073 shares during the period. Sei Investments Co. grew its holdings in Lear by 23.1% during the second quarter. Sei Investments Co. now owns 28,834 shares of the auto parts company’s stock valued at $3,194,000 after purchasing an additional 5,410 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Lear in the second quarter valued at approximately $92,000. Finally, Mather Group LLC. acquired a new stake in shares of Lear in the second quarter worth $241,000. Institutional investors own 94.65% of the company’s stock.
Several research analysts recently commented on LEA shares. Morgan Stanley lifted their target price on shares of Lear from $86.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Deutsche Bank boosted their price objective on Lear from $133.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Citigroup raised their target price on Lear from $104.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Credit Suisse Group upped their price target on Lear from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Benchmark raised their price objective on shares of Lear from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Lear currently has a consensus rating of “Hold” and a consensus target price of $113.81.
Lear (NYSE:LEA) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported ($4.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($4.98) by $0.84. Lear had a net margin of 0.75% and a return on equity of 5.95%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm earned $3.78 earnings per share. The company’s quarterly revenue was down 51.2% compared to the same quarter last year. On average, equities analysts anticipate that Lear Co. will post 2.8 earnings per share for the current year.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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