Smith Graham & Co. Investment Advisors LP decreased its position in Lear Corp. (NYSE:LEA) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,450 shares of the company’s stock after selling 240 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Lear Corp. were worth $3,811,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its position in 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 raised its position in 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 acquired a new position in Lear Corp. during the second quarter worth approximately $204,000. Hartford Investment Management Co. raised its position in 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 raised its position in 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. 94.70% of the stock is currently owned by institutional investors and hedge funds.
Lear Corp. (NYSE:LEA) traded up 2.06% during midday trading on Friday, reaching $121.22. 573,747 shares of the company traded hands. Lear Corp. has a one year low of $93.54 and a one year high of $127.00. The stock’s 50 day moving average is $116.40 and its 200 day moving average is $112.99. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25.
Lear Corp. (NYSE:LEA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm posted $2.82 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that Lear Corp. will post $13.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s dividend payout ratio is currently 9.58%.
A number of research firms recently commented on LEA. Citigroup Inc. raised their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the company a “hold” rating in a report on Monday, August 1st. Zacks Investment Research lowered shares of Lear Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. raised their target price on shares of Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Bank of America Corp. lowered shares of Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $128.11.
About Lear Corp.
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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