Investec Asset Management North America Inc. Buys 540 Shares of Lear Corporation (LEA)
Investec Asset Management North America Inc. lifted its holdings in shares of Lear Corporation (NYSE:LEA) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,225 shares of the auto parts company’s stock after buying an additional 540 shares during the period. Investec Asset Management North America Inc.’s holdings in Lear Corporation were worth $1,169,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Comerica Securities Inc. raised its stake in shares of Lear Corporation by 36.6% during the 1st 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 in the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Lear Corporation during the 1st quarter worth approximately $3,302,000. Hillsdale Investment Management Inc. raised its stake in shares of Lear Corporation by 3.2% during the 1st 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 in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Lear Corporation during the 1st quarter worth approximately $969,000. Finally, Deschutes Portfolio Strategy LLC raised its stake in shares of Lear Corporation by 21.9% during the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock worth $316,000 after buying an additional 400 shares in the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on LEA. KeyCorp reissued a “buy” rating and set a $180.00 target price on shares of Lear Corporation in a research note on Sunday. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Royal Bank Of Canada reissued a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a research note on Wednesday, July 12th. Finally, Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $149.00 to $142.00 in a research note on Thursday, June 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $152.67.
Lear Corporation (LEA) traded up 2.24% during trading on Friday, reaching $167.17. The company had a trading volume of 1,340,354 shares. The firm has a market capitalization of $11.38 billion, a P/E ratio of 11.14 and a beta of 1.31. The company has a 50-day moving average of $148.17 and a 200-day moving average of $144.07. Lear Corporation has a 52-week low of $110.77 and a 52-week high of $167.67.
Lear Corporation (NYSE:LEA) last released its earnings results 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. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.66 earnings per share. Analysts expect that Lear Corporation will post $16.53 EPS for the current fiscal year.
The company 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 $0.50 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.
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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