National Pension Service boosted its position in Lear Corporation (NYSE:LEA) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,848 shares of the auto parts company’s stock after buying an additional 7,945 shares during the period. National Pension Service owned 0.12% of Lear Corporation worth $11,702,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Lear Corporation by 1,617.8% in the first quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock worth $1,007,136,000 after buying an additional 6,699,449 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lear Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 6,251,039 shares of the auto parts company’s stock worth $885,022,000 after buying an additional 173,513 shares in the last quarter. Bank of Montreal Can raised its position in shares of Lear Corporation by 7.2% in the first quarter. Bank of Montreal Can now owns 2,130,459 shares of the auto parts company’s stock worth $301,630,000 after buying an additional 142,894 shares in the last quarter. State Street Corp raised its position in shares of Lear Corporation by 7.2% in the first quarter. State Street Corp now owns 1,725,677 shares of the auto parts company’s stock worth $244,312,000 after buying an additional 115,931 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Lear Corporation by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 806,200 shares of the auto parts company’s stock worth $114,138,000 after buying an additional 8,791 shares in the last quarter. 96.59% of the stock is currently owned by institutional investors and hedge funds.
Lear Corporation (NYSE:LEA) traded up 1.18% during mid-day trading on Monday, reaching $144.43. The company had a trading volume of 842,412 shares. The stock has a 50 day moving average price of $145.44 and a 200 day moving average price of $142.84. The company has a market capitalization of $9.83 billion, a P/E ratio of 9.62 and a beta of 1.32. Lear Corporation has a one year low of $110.77 and a one year high of $153.28.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the firm earned $3.66 earnings per share. The company’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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.38%. Lear Corporation’s payout ratio is 13.28%.
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Several analysts have recently weighed in on LEA shares. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $149.00 to $142.00 in a research report on Thursday, June 8th. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Barclays PLC reiterated an “equal weight” rating and issued a $134.00 price objective (down previously from $138.00) on shares of Lear Corporation in a research report on Saturday, April 22nd. Guggenheim began coverage on Lear Corporation in a research report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective for the company. Finally, BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $148.64.
In other Lear Corporation news, Director Greg C. Smith sold 2,266 shares of Lear Corporation stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $145.12, for a total value of $328,841.92. Following the completion of the transaction, the director now directly owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.49% of the company’s stock.
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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