Verition Fund Management LLC lowered its stake in Lear Corporation (NYSE:LEA) by 59.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,982 shares of the auto parts company’s stock after selling 12,996 shares during the quarter. Verition Fund Management LLC’s holdings in Lear Corporation were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Lear Corporation by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after buying an additional 48 shares during the period. Global X Management Co. LLC raised its stake in shares of 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 worth $124,000 after buying an additional 204 shares during the period. Van ECK Associates Corp raised its stake in shares of Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares during the period. Parallel Advisors LLC raised its stake in shares of Lear Corporation by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after buying an additional 42 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Lear Corporation by 144.0% in the second quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock worth $217,000 after buying an additional 900 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Lear Corporation (NYSE LEA) traded up 0.62% during mid-day trading on Friday, hitting $173.37. The company had a trading volume of 435,107 shares. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $177.24. The firm has a market capitalization of $11.80 billion, a P/E ratio of 11.55 and a beta of 1.35. The company has a 50-day moving average price of $163.63 and a 200 day moving average price of $148.26.

Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.28. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. Lear Corporation’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.66 EPS. Equities analysts forecast that Lear Corporation will post $16.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Thursday, August 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lear Corporation’s payout ratio is 13.28%.

LEA has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Lear Corporation in a research note on Friday, September 1st. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $135.00 to $110.00 in a research note on Friday, June 16th. Guggenheim initiated coverage on Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective on the stock. Finally, Barclays PLC raised their price objective on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $165.64.

COPYRIGHT VIOLATION WARNING: “Verition Fund Management LLC Sells 12,996 Shares of Lear Corporation (LEA)” was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://theolympiareport.com/2017/10/14/verition-fund-management-llc-sells-12996-shares-of-lear-corporation-lea.html.

In other Lear Corporation news, SVP Mel Stephens sold 2,411 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $172.88, for a total transaction of $416,813.68. Following the completion of the transaction, the senior vice president now owns 44,484 shares of the company’s stock, valued at $7,690,393.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total value of $494,855.06. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. Insiders sold a total of 9,404 shares of company stock valued at $1,601,681 in the last ninety days. 0.49% of the stock is currently owned by insiders.

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.

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

Receive News & Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.