Gargoyle Investment Advisor L.L.C. maintained its position in shares of Lear Corp. (NYSE:LEA) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,118 shares of the company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Lear Corp. were worth $2,149,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions 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 valued at $104,000 after buying an additional 26 shares during 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 valued at $156,000 after buying an additional 300 shares during the last quarter. Quotient Investors LLC bought a new position in Lear Corp. during the second quarter valued at about $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 valued at $210,000 after buying an additional 243 shares during the last quarter. Finally, SevenBridge Financial Group LLC bought a new position in Lear Corp. during the first quarter valued at about $214,000. Hedge funds and other institutional investors own 94.70% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) traded down 0.18% on Monday, reaching $121.00. The company’s stock had a trading volume of 589,522 shares. Lear Corp. has a one year low of $93.54 and a one year high of $127.00. The firm has a 50-day moving average price of $116.59 and a 200 day moving average price of $113.07. The firm has a market capitalization of $8.65 billion, a PE ratio of 9.68 and a beta of 1.22.
Lear Corp. (NYSE:LEA) last posted its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. The company earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. Lear Corp.’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, analysts anticipate 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. Shareholders of record on Thursday, September 1st were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.99%. Lear Corp.’s dividend payout ratio is currently 9.58%.
Several equities analysts recently issued reports on LEA shares. Zacks Investment Research lowered Lear Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Barclays PLC set a $127.00 price objective on Lear Corp. and gave the stock a “hold” rating in a report on Monday, August 1st. Seaport Global Securities started coverage on Lear Corp. in a report on Tuesday, August 9th. They issued a “neutral” rating for the company. Bank of America Corp. cut Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, Citigroup Inc. increased their price objective on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $128.11.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the sale, the director now owns 4,025 shares in the company, valued at $479,941. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.
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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