Midas Management Corp held its stake in shares of Lear Corp. (NYSE:LEA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Lear Corp. were worth $712,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in LEA. Nisa Investment Advisors L.L.C. raised its stake in shares of Lear Corp. by 42.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,000 shares of the company’s stock worth $556,000 after buying an additional 1,500 shares in the last quarter. M&T Bank Corp raised its stake in shares of Lear Corp. by 2.5% in the first quarter. M&T Bank Corp now owns 25,141 shares of the company’s stock worth $2,795,000 after buying an additional 613 shares in the last quarter. Aviva PLC increased its stake in Lear Corp. by 0.7% in the first quarter. Aviva PLC now owns 38,425 shares of the company’s stock worth $4,272,000 after buying an additional 255 shares during the last quarter. Credit Agricole S A increased its stake in Lear Corp. by 52.9% in the first quarter. Credit Agricole S A now owns 42,146 shares of the company’s stock worth $4,686,000 after buying an additional 14,589 shares during the last quarter. Finally, BB&T Securities LLC increased its stake in Lear Corp. by 12.1% in the first quarter. BB&T Securities LLC now owns 2,346 shares of the company’s stock worth $260,000 after buying an additional 254 shares during the last quarter. 94.70% of the stock is currently owned by institutional investors.
Shares of Lear Corp. (NYSE:LEA) traded down 2.65% on Tuesday, reaching $112.84. The company’s stock had a trading volume of 1,768,917 shares. The stock has a 50-day moving average of $117.89 and a 200 day moving average of $113.70. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00. The stock has a market capitalization of $8.07 billion, a PE ratio of 9.03 and a beta of 1.22.
Lear Corp. (NYSE:LEA) last issued its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.34. The firm earned $4.70 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.82 earnings per share. On average, equities analysts forecast that Lear Corp. will post $13.27 EPS 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
A number of equities research analysts have recently issued reports on LEA shares. Bank of America Corp. downgraded shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Zacks Investment Research downgraded shares of Lear Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the company a “hold” rating in a research report on Monday, August 1st. Finally, Citigroup Inc. lifted their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Lear Corp. has a consensus rating of “Hold” and an average target price of $125.45.
In related news, Director Jonathan F. Foster sold 1,500 shares of the firm’s 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 completion of the sale, the director now directly owns 4,025 shares in the company, valued at $479,941. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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