Lear Corp. (LEA) Position Reduced by First Midwest Bank Trust Division
First Midwest Bank Trust Division lowered its position in Lear Corp. (NYSE:LEA) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,505 shares of the company’s stock after selling 200 shares during the period. First Midwest Bank Trust Division’s holdings in Lear Corp. were worth $1,171,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of LEA. Checchi Capital Advisers LLC boosted its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the period. Creative Planning boosted its stake in shares of Lear Corp. by 24.4% in the second quarter. Creative Planning now owns 1,532 shares of the company’s stock valued at $156,000 after buying an additional 300 shares during the period. Quotient Investors LLC bought a new stake in shares of Lear Corp. during the second quarter valued at about $204,000. Hartford Investment Management Co. boosted its stake in shares of Lear Corp. by 13.3% in the second quarter. Hartford Investment Management Co. now owns 2,067 shares of the company’s stock valued at $210,000 after buying an additional 243 shares during the period. Finally, SevenBridge Financial Group LLC bought a new stake in shares of Lear Corp. during the first quarter valued at about $214,000. Institutional investors own 94.70% of the company’s stock.
Shares of Lear Corp. (NYSE:LEA) traded up 2.06% during mid-day trading on Friday, hitting $121.22. 573,747 shares of the company traded hands. The firm’s 50 day moving average price is $116.26 and its 200-day moving average price is $112.93. The stock has a market capitalization of $8.67 billion, a PE ratio of 9.70 and a beta of 1.25. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00.
Lear Corp. (NYSE:LEA) last released its quarterly earnings data on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The company earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. Lear Corp.’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $2.82 EPS. On average, equities research analysts forecast that Lear Corp. will post $13.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
Several brokerages recently issued reports on LEA. Zacks Investment Research upgraded Lear Corp. from a “sell” rating to a “hold” rating and set a $127.00 price target for the company in a research note on Tuesday, August 2nd. Seaport Global Securities began coverage on Lear Corp. in a research note on Tuesday, August 9th. They issued a “neutral” rating for the company. Citigroup Inc. boosted their price target on Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on Lear Corp. and gave the company a “hold” rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $128.11.
Lear Corp. 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 operates through two segments: seating and electrical.
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