Redwood Investments LLC reduced its stake in shares of Lear Corp. (NYSE:LEA) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,445 shares of the company’s stock after selling 3 shares during the period. Redwood Investments LLC’s holdings in Lear Corp. were worth $1,368,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in LEA. Bank of Montreal Can bought a new stake in shares of Lear Corp. during the second quarter valued at about $222,829,000. Investec Asset Management LTD bought a new stake in shares of Lear Corp. during the first quarter valued at about $62,828,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Lear Corp. during the first quarter valued at about $43,520,000. American Century Companies Inc. raised its stake in shares of Lear Corp. by 259.0% in the second quarter. American Century Companies Inc. now owns 531,695 shares of the company’s stock valued at $54,105,000 after buying an additional 383,579 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Lear Corp. by 206.0% in the first quarter. Royal Bank of Canada now owns 277,247 shares of the company’s stock valued at $30,822,000 after buying an additional 186,629 shares during the period. Institutional investors and hedge funds own 94.70% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) traded up 2.65% during midday trading on Wednesday, hitting $124.46. 725,239 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $116.90 and its 200-day moving average is $113.14. The stock has a market cap of $8.90 billion, a PE ratio of 9.96 and a beta of 1.22. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00.
Lear Corp. (NYSE:LEA) last released its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the company earned $2.82 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.96%. Lear Corp.’s dividend payout ratio is presently 9.58%.
LEA has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Lear Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Bank of America Corp. lowered shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Seaport Global Securities initiated coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $129.11.
In related news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the sale, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
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.
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