Aberdeen Asset Management PLC UK Has $11.73 Million Stake in Lear Corporation (LEA)
Aberdeen Asset Management PLC UK increased its holdings in shares of Lear Corporation (NYSE:LEA) by 13.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,523 shares of the auto parts company’s stock after acquiring an additional 10,086 shares during the period. Aberdeen Asset Management PLC UK owned approximately 0.12% of Lear Corporation worth $11,726,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Lear Corporation by 1,617.8% during the 1st quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock valued at $1,007,136,000 after acquiring an additional 6,699,449 shares during the period. Vanguard Group Inc. grew its position in shares of Lear Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 6,251,039 shares of the auto parts company’s stock valued at $885,022,000 after acquiring an additional 173,513 shares during the period. LSV Asset Management grew its position in shares of Lear Corporation by 1.9% during the 2nd quarter. LSV Asset Management now owns 2,499,675 shares of the auto parts company’s stock valued at $355,153,000 after acquiring an additional 46,353 shares during the period. State Street Corp grew its position in shares of Lear Corporation by 7.2% during the 1st quarter. State Street Corp now owns 1,725,677 shares of the auto parts company’s stock valued at $244,312,000 after acquiring an additional 115,931 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lear Corporation by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 806,200 shares of the auto parts company’s stock valued at $114,138,000 after acquiring an additional 8,791 shares during the period. Hedge funds and other institutional investors own 94.33% of the company’s stock.
Shares of Lear Corporation (NYSE LEA) opened at 155.59 on Wednesday. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $155.71. The company has a 50-day moving average price of $146.68 and a 200 day moving average price of $143.56. The firm has a market capitalization of $10.59 billion, a PE ratio of 10.37 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business posted $3.66 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Lear Corporation will post $16.55 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.29%. Lear Corporation’s payout ratio is currently 13.28%.
A number of research firms have recently commented on LEA. Zacks Investment Research cut Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a research report on Wednesday, July 12th. Guggenheim began coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 target price on the stock. Finally, Bank of America Corporation cut Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $135.00 to $110.00 in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $150.18.
Lear Corporation 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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