LSV Asset Management cut its stake in shares of Lear Corp. (NYSE:LEA) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,698,071 shares of the company’s stock after selling 1,551 shares during the period. LSV Asset Management owned 3.77% of Lear Corp. worth $274,555,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Bowling Portfolio Management LLC boosted its position in shares of Lear Corp. by 32.7% in the first quarter. Bowling Portfolio Management LLC now owns 74,472 shares of the company’s stock valued at $8,279,000 after buying an additional 18,331 shares during the last quarter. Virginia Retirement System bought a new position in shares of Lear Corp. during the first quarter valued at $8,607,000. Nisa Investment Advisors L.L.C. boosted its position 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 valued at $556,000 after buying an additional 1,500 shares during the last quarter. Aperio Group LLC boosted its position in shares of Lear Corp. by 3.1% in the first quarter. Aperio Group LLC now owns 29,118 shares of the company’s stock valued at $3,237,000 after buying an additional 876 shares during the last quarter. Finally, New Century Investment Management Inc. boosted its position in shares of Lear Corp. by 0.8% in the first quarter. New Century Investment Management Inc. now owns 5,577 shares of the company’s stock valued at $620,000 after buying an additional 42 shares during the last quarter. Institutional investors own 94.70% of the company’s stock.

Lear Corp. (NYSE:LEA) traded up 1.91% during midday trading on Thursday, hitting $120.85. 440,330 shares of the stock were exchanged. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00. The firm’s 50-day moving average price is $115.11 and its 200 day moving average price is $112.43. The firm has a market capitalization of $8.64 billion, a P/E ratio of 9.67 and a beta of 1.25.

Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the firm posted $2.82 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts expect that Lear Corp. will post $13.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.

Several brokerages recently issued reports on LEA. Bank of America Corp. downgraded shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Seaport Global Securities began coverage on shares of Lear Corp. in a research note on Tuesday, August 9th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Lear Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. raised their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the company a “hold” rating in a research note on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $128.11.

About Lear Corp.

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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