Calamos Advisors LLC bought a new position in shares of Lear Corporation (NYSE:LEA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,250 shares of the auto parts company’s stock, valued at approximately $216,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LEA. Benjamin F. Edwards & Company Inc. grew its holdings in Lear Corporation by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after acquiring an additional 48 shares during the period. Toronto Dominion Bank grew its holdings in Lear Corporation by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after acquiring an additional 84 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in Lear Corporation during the 2nd quarter worth $126,000. Global X Management Co. LLC grew its holdings in Lear Corporation by 16.5% during the 2nd quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock worth $145,000 after acquiring an additional 145 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Lear Corporation by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after acquiring an additional 42 shares during the period. 94.49% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Deutsche Bank AG lifted 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 assumed coverage on shares of Lear Corporation in a report on Monday, September 25th. They set an “outperform” rating and a $195.00 target price for the company. KeyCorp lifted their target price on shares of Lear Corporation from $180.00 to $184.00 and gave the stock a “buy” rating in a report on Friday, October 13th. BidaskClub lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $173.13.
Shares of Lear Corporation (LEA) opened at $175.79 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.09. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.47 and a beta of 1.44. Lear Corporation has a 52-week low of $112.54 and a 52-week high of $178.80.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.80 by $0.16. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.84 billion. Lear Corporation had a net margin of 5.79% and a return on equity of 31.79%. Lear Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 earnings per share. equities analysts predict that Lear Corporation will post 16.84 earnings per share for the current fiscal year.
In other news, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the completion of the sale, the director now directly owns 4,100 shares in the company, valued at $683,511. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction on Monday, September 25th. The stock was sold at an average price of $172.88, for a total value of $416,813.68. Following the sale, the senior vice president now owns 44,484 shares of the company’s stock, valued at $7,690,393.92. 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 ninety days. 0.49% of the stock is owned by insiders.
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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