Teacher Retirement System of Texas Raises Stake in Lear Corporation (LEA)
Teacher Retirement System of Texas boosted its position in Lear Corporation (NYSE:LEA) by 28.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,116 shares of the auto parts company’s stock after buying an additional 22,046 shares during the period. Teacher Retirement System of Texas’ holdings in Lear Corporation were worth $14,224,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Comerica Securities Inc. boosted its stake in shares of Lear Corporation by 36.6% in the first quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock worth $624,000 after buying an additional 1,180 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Lear Corporation during the first quarter worth about $3,302,000. Hillsdale Investment Management Inc. boosted its stake in shares of Lear Corporation by 3.2% in the first quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock worth $322,000 after buying an additional 70 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Lear Corporation during the first quarter worth about $969,000. Finally, Clinton Group Inc. boosted its stake in shares of Lear Corporation by 156.8% in the first quarter. Clinton Group Inc. now owns 46,943 shares of the auto parts company’s stock worth $6,646,000 after buying an additional 28,663 shares during the last quarter. Institutional investors and hedge funds own 97.57% of the company’s stock.
Lear Corporation (NYSE:LEA) opened at 142.74 on Friday. The stock has a market cap of $9.72 billion, a PE ratio of 9.51 and a beta of 1.32. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $153.28. The firm has a 50-day moving average price of $145.26 and a 200-day moving average price of $142.88.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the Zacks’ 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 return on equity of 32.34% and a net margin of 5.51%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.66 EPS. Analysts forecast that Lear Corporation will post $16.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s dividend payout ratio is 13.28%.
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A number of analysts have recently issued reports on LEA shares. Morgan Stanley cut Lear Corporation from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $149.00 to $142.00 in a report on Thursday, June 8th. Barclays PLC boosted their target price on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, July 27th. ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $149.00 target price on shares of Lear Corporation in a report on Thursday, April 27th. Finally, Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $148.64.
In other news, Director Greg C. Smith sold 2,266 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
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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