JPMorgan Chase & Co. Has $82.31 Million Stake in Lear Corporation (LEA)

JPMorgan Chase & Co. grew its holdings in shares of Lear Corporation (NYSE:LEA) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 473,337 shares of the auto parts company’s stock after acquiring an additional 61,618 shares during the period. JPMorgan Chase & Co. owned about 0.70% of Lear worth $82,309,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LEA. Toronto Dominion Bank raised its stake in Lear 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 buying an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Lear during the second quarter worth $126,000. Global X Management Co. LLC raised its stake in Lear 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 buying an additional 145 shares during the last quarter. Parallel Advisors LLC raised its stake in Lear 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 buying an additional 42 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Lear during the third quarter worth $210,000. 91.81% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. UBS downgraded shares of Lear from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Jefferies Group assumed coverage on shares of Lear in a research note on Thursday, September 28th. They set a “buy” rating and a $197.00 target price for the company. Buckingham Research downgraded shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 target price for the company. in a research note on Tuesday, September 26th. They noted that the move was a valuation call. BidaskClub raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Cowen began coverage on shares of Lear in a research note on Monday, September 25th. They set an “outperform” rating and a $195.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $173.13.

In other news, EVP Terrence B. Larkin sold 1,137 shares of Lear stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now directly owns 6,912 shares in the company, valued at $1,228,538.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Insiders have sold 11,337 shares of company stock valued at $1,946,256 over the last quarter. Corporate insiders own 0.49% of the company’s stock.

Lear Corporation (LEA) traded up $0.80 during trading hours on Wednesday, reaching $177.80. 391,300 shares of the company’s stock were exchanged, compared to its average volume of 662,308. 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 firm has a market capitalization of $11,958.25, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43. Lear Corporation has a 1-year low of $131.03 and a 1-year high of $181.38.

Lear (NYSE:LEA) last posted its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.16. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Lear had a net margin of 5.79% and a return on equity of 31.79%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $3.19 earnings per share. research analysts forecast that Lear Corporation will post 16.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, December 7th. Lear’s payout ratio is 12.47%.

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Lear 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.

Institutional Ownership by Quarter for Lear (NYSE:LEA)

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