Empirical Finance LLC grew its position in Lear Corporation (NYSE:LEA) by 96.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,171 shares of the auto parts company’s stock after acquiring an additional 6,941 shares during the quarter. Lear Corporation accounts for 0.8% of Empirical Finance LLC’s portfolio, making the stock its 18th biggest holding. Empirical Finance LLC’s holdings in Lear Corporation were worth $2,014,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in Lear Corporation by 23.9% in the 1st quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock worth $109,000 after acquiring an additional 148 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Lear Corporation by 6.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after acquiring an additional 48 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Lear Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after acquiring an additional 408 shares during the last quarter. Global X Management Co. LLC increased its stake in Lear Corporation by 30.3% in the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after acquiring an additional 204 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Lear Corporation by 5.4% in the 1st quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after acquiring an additional 51 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.
LEA has been the subject of a number of recent research reports. Barclays PLC lifted their target price on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, July 27th. BidaskClub upgraded Lear Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Robert W. Baird reiterated a “buy” rating and issued a $178.00 target price on shares of Lear Corporation in a report on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and set a $157.00 price objective on shares of Lear Corporation in a report on Wednesday, July 12th. Finally, ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Lear Corporation currently has a consensus rating of “Hold” and a consensus target price of $150.18.
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Shares of Lear Corporation (NYSE LEA) traded up 1.31% during midday trading on Tuesday, hitting $154.99. The company’s stock had a trading volume of 166,697 shares. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 10.33 and a beta of 1.31. The firm has a 50-day moving average of $146.49 and a 200 day moving average of $143.49. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $155.04.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, topping the consensus estimate of $4.11 by $0.28. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $3.66 earnings per share. On average, equities research analysts predict that Lear Corporation will post $16.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
About Lear Corporation
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.
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