Public Employees Retirement Association of Colorado reduced its stake in shares of Lear Corporation (NYSE:LEA) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,477 shares of the auto parts company’s stock after selling 177 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Lear Corporation were worth $1,915,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake 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 valued at $1,007,136,000 after buying an additional 6,699,449 shares in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $885,022,000 after buying an additional 173,513 shares in the last quarter. State Street Corp raised its stake 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 valued at $244,312,000 after buying an additional 115,931 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $114,138,000 after buying an additional 8,791 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lear Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 797,040 shares of the auto parts company’s stock valued at $112,845,000 after buying an additional 22,749 shares in the last quarter. 97.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lear Corporation (NYSE:LEA) opened at 141.89 on Friday. The stock’s 50 day moving average price is $145.12 and its 200-day moving average price is $142.87. The company has a market cap of $9.66 billion, a P/E ratio of 9.45 and a beta of 1.32. Lear Corporation has a 52-week low of $110.77 and a 52-week high of $153.28.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating 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 was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.66 EPS. Equities analysts expect that Lear Corporation will post $16.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.
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Several equities analysts have issued reports on the company. 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. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Seaport Global Securities upgraded Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Thursday, May 4th. Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $135.00 to $110.00 in a research report on Friday, June 16th. Finally, Guggenheim assumed 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. Three equities research 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’s stock. Lear Corporation presently has a consensus rating of “Hold” and a consensus price target of $148.64.
In related news, Director Greg C. Smith sold 2,266 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the sale, the director now owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.
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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