Chase Investment Counsel Corp increased its position in Lear Corp. (NYSE:LEA) by 28.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,060 shares of the company’s stock after buying an additional 1,765 shares during the period. Chase Investment Counsel Corp’s holdings in Lear Corp. were worth $820,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of LEA. Checchi Capital Advisers LLC boosted its position in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares in the last quarter. Creative Planning boosted its position in shares of Lear Corp. by 24.4% in the second quarter. Creative Planning now owns 1,532 shares of the company’s stock worth $156,000 after buying an additional 300 shares in the last quarter. Quotient Investors LLC bought a new position in shares of Lear Corp. during the second quarter worth approximately $204,000. Hartford Investment Management Co. boosted its position in shares of Lear Corp. by 13.3% in the second quarter. Hartford Investment Management Co. now owns 2,067 shares of the company’s stock worth $210,000 after buying an additional 243 shares in the last quarter. Finally, BKD Wealth Advisors LLC boosted its position in shares of Lear Corp. by 12.9% in the second quarter. BKD Wealth Advisors LLC now owns 2,211 shares of the company’s stock worth $225,000 after buying an additional 253 shares in the last quarter. Institutional investors own 94.70% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) traded up 1.20% during mid-day trading on Wednesday, reaching $120.13. The company’s stock had a trading volume of 613,989 shares. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00. The company has a 50 day moving average price of $115.90 and a 200 day moving average price of $112.82. The stock has a market capitalization of $8.59 billion, a P/E ratio of 9.61 and a beta of 1.25.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $2.82 earnings per share. On average, equities research analysts anticipate that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio is currently 9.58%.
A number of research analysts have commented on the company. Citigroup Inc. boosted their price objective on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Barclays PLC set a $127.00 price objective on Lear Corp. and gave the stock a “hold” rating in a research note on Monday, August 1st. Zacks Investment Research cut Lear Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. boosted their price objective on Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Seaport Global Securities assumed coverage on Lear Corp. in a research note on Tuesday, August 9th. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lear Corp. currently has an average rating of “Hold” and an average price target of $128.11.
Lear Corp. 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 operates through two segments: seating and electrical.
Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corp. (NYSE:LEA).
Receive News & Ratings for Lear Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corp. and related companies with MarketBeat.com's FREE daily email newsletter.