Lear Corporation (LEA) Shares Bought by Old Mutual Global Investors UK Ltd.
Old Mutual Global Investors UK Ltd. lifted its position in shares of Lear Corporation (NYSE:LEA) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 671,211 shares of the auto parts company’s stock after acquiring an additional 92,491 shares during the quarter. Old Mutual Global Investors UK Ltd. owned 0.99% of Lear Corporation worth $95,365,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in LEA. State of Alaska Department of Revenue purchased a new stake in shares of Lear Corporation during the 1st quarter worth approximately $220,000. Strs Ohio raised its position in shares of Lear Corporation by 0.6% during the 1st quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock worth $685,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc raised its position in shares of Lear Corporation by 1.8% during the 1st quarter. IFP Advisors Inc now owns 1,393 shares of the auto parts company’s stock worth $197,000 after purchasing an additional 25 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Lear Corporation by 9.6% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,146 shares of the auto parts company’s stock worth $728,000 after purchasing an additional 451 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Lear Corporation during the 1st quarter worth approximately $292,000. 94.33% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on LEA shares. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $149.00 to $142.00 in a research report on Thursday, June 8th. Guggenheim started coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price objective for the company. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $135.00 to $110.00 in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Lear Corporation currently has an average rating of “Hold” and a consensus target price of $150.18.
Shares of Lear Corporation (LEA) traded up 0.53% on Wednesday, reaching $151.91. The company’s stock had a trading volume of 114,472 shares. The stock has a 50-day moving average of $146.19 and a 200 day moving average of $143.30. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $153.28. The stock has a market capitalization of $10.34 billion, a PE ratio of 10.12 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.66 EPS. On average, equities analysts forecast that Lear Corporation will post $16.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. 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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