Capital Fund Management S.A. raised its position in shares of Lear Corp. (NYSE:LEA) by 30.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,168 shares of the company’s stock after buying an additional 2,384 shares during the period. Capital Fund Management S.A.’s holdings in Lear Corp. were worth $1,035,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. 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 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 valued at $156,000 after buying an additional 300 shares in 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 in 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.
Lear Corp. (NYSE:LEA) traded down 0.64% during midday trading on Friday, reaching $121.01. 1,247,213 shares of the company traded hands. The stock has a market capitalization of $8.66 billion, a P/E ratio of 9.68 and a beta of 1.22. The firm has a 50-day moving average of $117.57 and a 200-day moving average of $113.35. Lear Corp. has a 1-year low of $93.54 and a 1-year 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 (EPS) for the quarter, beating the consensus estimate 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 had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Lear Corp. will post $13.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 0.99%. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Lear Corp. from a “sell” rating to a “hold” rating and set a $127.00 price target for the company in a research report on Tuesday, August 2nd. Seaport Global Securities assumed coverage on Lear Corp. in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. Citigroup Inc. upped their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research note 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 research note on Monday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $127.44.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the transaction, the director now owns 4,025 shares in the company, valued at $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.
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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