Lear Corporation (NYSE:LEA) Position Reduced by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. decreased its stake in shares of Lear Corporation (NYSE:LEA) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,850 shares of the auto parts company’s stock after selling 950 shares during the period. Daiwa Securities Group Inc.’s holdings in Lear Corporation were worth $1,257,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the period. Global X Management Co. LLC increased 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 valued at $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp increased 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 valued at $140,000 after buying an additional 51 shares during the period. 97.57% of the stock is currently owned by institutional investors.
Lear Corporation (NYSE:LEA) opened at 145.43 on Thursday. The stock has a market cap of $9.90 billion, a PE ratio of 9.69 and a beta of 1.32. The stock has a 50 day moving average price of $145.02 and a 200-day moving average price of $142.88. Lear Corporation has a one year low of $110.77 and a one year high of $153.28.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the firm earned $3.66 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that Lear Corporation will post $16.49 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and set a $149.00 target price on shares of Lear Corporation in a research note on Thursday, April 27th. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $149.00 to $142.00 in a research note on Thursday, June 8th. Finally, Zacks Investment Research raised Lear Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $148.64.
In related news, Director Greg C. Smith sold 2,266 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total value of $328,841.92. Following the completion of the sale, the director now owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by company insiders.
Lear Corporation 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’s segments include Seating and E-Systems.
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