Alliancebernstein L.P. reduced its position in Lear Corporation (NYSE:LEA) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 985,397 shares of the auto parts company’s stock after selling 72,437 shares during the quarter. Alliancebernstein L.P. owned about 1.45% of Lear Corporation worth $140,005,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes 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 valued at $109,000 after acquiring an additional 148 shares during the period. 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 acquiring an additional 48 shares during the period. 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 valued at $123,000 after acquiring an additional 408 shares during the period. 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 valued at $124,000 after acquiring an additional 204 shares during the period. 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 valued at $140,000 after acquiring an additional 51 shares during the period. Institutional investors own 94.33% of the company’s stock.

LEA has been the subject of a number of analyst reports. Morgan Stanley lowered shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Barclays PLC raised their price objective on shares of Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Robert W. Baird restated a “buy” rating and issued a $178.00 price objective on shares of Lear Corporation in a research report on Friday, September 1st. ValuEngine lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, BidaskClub upgraded shares of Lear Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $150.18.

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Shares of Lear Corporation (NYSE:LEA) opened at 151.00 on Friday. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $153.83. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 10.06 and a beta of 1.31. The firm’s 50-day moving average is $146.44 and its 200 day moving average is $143.48.

Lear Corporation (NYSE:LEA) last posted its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company posted $3.66 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts expect that Lear Corporation will post $16.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.32%. Lear Corporation’s payout ratio is 13.28%.

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.

Institutional Ownership by Quarter for Lear Corporation (NYSE:LEA)

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