Waverton Investment Management Ltd decreased its position in Lear Corp. (NYSE:LEA) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 22,870 shares of the company’s stock after selling 50 shares during the period. Waverton Investment Management Ltd’s holdings in Lear Corp. were worth $2,327,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in LEA. Checchi Capital Advisers LLC raised 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 valued at $104,000 after buying an additional 26 shares in the last quarter. Creative Planning raised 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 valued at $156,000 after buying an additional 300 shares in the last quarter. Quotient Investors LLC acquired a new position in shares of Lear Corp. during the second quarter valued at $204,000. Hartford Investment Management Co. raised 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 valued at $210,000 after buying an additional 243 shares in the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Lear Corp. during the first quarter valued at $214,000. Institutional investors own 94.70% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) traded down 0.64% during midday trading on Friday, hitting $121.01. 1,247,213 shares of the stock traded hands. The firm has a 50-day moving average price of $117.36 and a 200-day moving average price of $113.28. The stock has a market capitalization of $8.66 billion, a P/E ratio of 9.68 and a beta of 1.22. 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 EPS for the quarter, topping the 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 the consensus estimate of $4.86 billion. During the same period last year, the company earned $2.82 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 0.99%. Lear Corp.’s dividend payout ratio is presently 9.58%.
Several equities analysts recently weighed in on the stock. Goldman Sachs Group Inc. lowered shares of Lear Corp. from a “neutral” rating to a “sell” rating in a report on Thursday. 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. increased their price objective 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. Citigroup Inc. increased their price objective on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Lear Corp. presently has an average rating of “Hold” and a consensus target price of $129.11.
In related news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the sale, the director now directly owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.
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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