Lear Corporation (NYSE:LEA) Shares Bought by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC boosted its stake in Lear Corporation (NYSE:LEA) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,667 shares of the auto parts company’s stock after buying an additional 313 shares during the period. Janney Montgomery Scott LLC’s holdings in Lear Corporation were worth $1,373,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LEA. Harbour Capital Advisors LLC boosted its position in shares of Lear Corporation by 14,108.0% in the second quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock valued at $1,575,000 after buying an additional 222,201 shares during the last quarter. Bowling Portfolio Management LLC boosted its position in shares of Lear Corporation by 1.6% in the second quarter. Bowling Portfolio Management LLC now owns 52,110 shares of the auto parts company’s stock valued at $7,404,000 after buying an additional 825 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position 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 valued at $118,000 after buying an additional 48 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Lear Corporation during the second quarter valued at about $1,901,000. Finally, Strs Ohio boosted its position in shares of Lear Corporation by 1.7% in the second quarter. Strs Ohio now owns 4,919 shares of the auto parts company’s stock valued at $698,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
Lear Corporation (NYSE:LEA) opened at 141.89 on Friday. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $153.28. The stock has a market capitalization of $9.66 billion, a PE ratio of 9.45 and a beta of 1.32. The company’s 50-day moving average price is $145.12 and its 200 day moving average price is $142.87.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings data 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. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm earned $3.66 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts forecast that Lear Corporation will post $16.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. Lear Corporation’s payout ratio is 13.28%.
Several research analysts have recently issued reports on the company. BidaskClub cut Lear Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. 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. Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and issued a $157.00 price objective on shares of Lear Corporation in a research note on Wednesday, July 12th. Finally, Guggenheim assumed coverage on Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $148.64.
In other Lear Corporation 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 transaction of $328,841.92. Following the completion of the sale, the director now directly owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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