Cambridge Investment Research Advisors Inc. Has $938,000 Stake in Lear Corporation (LEA)

Cambridge Investment Research Advisors Inc. cut its stake in shares of Lear Corporation (NYSE:LEA) by 32.9% during the first quarter, Holdings Channel reports. The fund owned 6,627 shares of the auto parts company’s stock after selling 3,250 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lear Corporation were worth $938,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Lear Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 6,251,039 shares of the auto parts company’s stock valued at $885,022,000 after buying an additional 173,513 shares during the period. Mackenzie Financial Corp bought a new stake in Lear Corporation during the first quarter valued at $19,121,000. Bailard Inc. raised its stake in Lear Corporation by 0.9% in the first quarter. Bailard Inc. now owns 25,176 shares of the auto parts company’s stock valued at $3,564,000 after buying an additional 230 shares during the period. Meeder Asset Management Inc. bought a new stake in Lear Corporation during the first quarter valued at $946,000. Finally, Global X Management Co. LLC raised its stake in Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the period. 96.92% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Lear Corporation (NYSE:LEA)

Shares of Lear Corporation (NYSE:LEA) traded down 1.14% on Tuesday, hitting $137.11. The stock had a trading volume of 551,714 shares. Lear Corporation has a 52 week low of $97.35 and a 52 week high of $153.28. The company has a market cap of $9.45 billion, a PE ratio of 9.54 and a beta of 1.23. The stock’s 50-day moving average price is $144.88 and its 200 day moving average price is $140.86.

Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, April 26th. The auto parts company reported $4.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.32. Lear Corporation had a return on equity of 32.76% and a net margin of 5.46%. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the company posted $3.40 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts predict that Lear Corporation will post $16.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. Lear Corporation’s dividend payout ratio is currently 13.90%.

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Several research firms recently weighed in on LEA. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $149.00 to $142.00 in a report on Thursday, June 8th. Bank of America Corporation lowered Lear Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $135.00 to $110.00 in a report on Friday. Berenberg Bank began coverage on Lear Corporation in a report on Friday, March 31st. They issued a “buy” rating and a $175.00 target price for the company. Royal Bank Of Canada restated a “hold” rating and issued a $149.00 target price on shares of Lear Corporation in a report on Thursday, April 27th. Finally, Zacks Investment Research lowered Lear Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 28th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Lear Corporation presently has an average rating of “Hold” and a consensus target price of $143.75.

In related news, Director Greg C. Smith sold 2,266 shares of Lear Corporation stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the sale, the director now directly owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.

Lear Corporation 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’s segments include Seating and E-Systems.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LEA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corporation (NYSE:LEA).

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