Bp Plc Maintains Stake in Lear Corporation (LEA)
Bp Plc continued to hold its position in shares of Lear Corporation (NYSE:LEA) during the second quarter, Holdings Channel reports. The fund owned 9,000 shares of the auto parts company’s stock at the end of the second quarter. Bp Plc’s holdings in Lear Corporation were worth $1,279,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in LEA. Toronto Dominion Bank boosted its position 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 worth $109,000 after buying an additional 148 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position 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 worth $111,000 after buying an additional 270 shares in the last quarter. TrimTabs Asset Management LLC boosted its position 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 worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC boosted its position 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 in the last quarter. Finally, Van ECK Associates Corp boosted its position 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 in the last quarter. 97.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lear Corporation (LEA) opened at 142.74 on Friday. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 9.51 and a beta of 1.32. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The company’s 50 day moving average is $145.26 and its 200-day moving average is $142.88.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. Lear Corporation’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.66 earnings per share. Equities analysts expect that Lear Corporation will post $16.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s dividend payout ratio is presently 13.28%.
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A number of equities analysts have recently weighed in on LEA shares. Barclays PLC reissued an “equal weight” rating and set a $134.00 price target (down from $138.00) on shares of Lear Corporation in a research report on Saturday, April 22nd. Zacks Investment Research cut shares of Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Seaport Global Securities raised shares of Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Thursday, May 4th. Bank of America Corporation cut shares of Lear Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $135.00 to $110.00 in a research report on Friday, June 16th. Finally, Guggenheim started coverage on shares of Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company 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 on Monday, May 22nd. The shares were sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now directly owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by corporate 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.
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