Boston Advisors LLC acquired a new stake in shares of Lear Corp. (NYSE:LEA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,565 shares of the company’s stock, valued at approximately $872,000.
Other institutional investors have also recently modified their holdings of the company. Prospera Financial Services Inc boosted its position in shares of Lear Corp. by 8.7% in the second quarter. Prospera Financial Services Inc now owns 2,275 shares of the company’s stock valued at $232,000 after buying an additional 182 shares in the last quarter. PGGM Investments boosted its position in Lear Corp. by 35.3% in the second quarter. PGGM Investments now owns 346,152 shares of the company’s stock worth $35,224,000 after buying an additional 90,279 shares in the last quarter. Strs Ohio boosted its position in Lear Corp. by 32.0% in the second quarter. Strs Ohio now owns 7,096 shares of the company’s stock worth $722,000 after buying an additional 1,720 shares in the last quarter. Smith Asset Management Group LP bought a new position in Lear Corp. during the second quarter worth approximately $11,049,000. Finally, HL Financial Services LLC boosted its position in Lear Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 3,708 shares of the company’s stock worth $377,000 after buying an additional 44 shares in the last quarter. 94.70% of the stock is owned by institutional investors.
Lear Corp. (NYSE:LEA) traded down 0.18% during midday trading on Monday, reaching $121.00. 589,522 shares of the company were exchanged. The firm has a market capitalization of $8.65 billion, a PE ratio of 9.68 and a beta of 1.22. The company has a 50-day moving average of $116.59 and a 200 day moving average of $113.07. Lear Corp. has a 52 week low of $93.54 and a 52 week high of $127.00.
Lear Corp. (NYSE:LEA) last posted its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The firm earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the firm posted $2.82 earnings per share. Lear Corp.’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
A number of equities analysts have commented on LEA shares. Bank of America Corp. cut shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Zacks Investment Research cut shares of 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 target on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the stock a “hold” rating in a research note on Monday, August 1st. Finally, Citigroup Inc. boosted their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $128.11.
In related news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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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