Citigroup Inc. Increases Holdings in Lear Corporation (LEA)
Citigroup Inc. boosted its holdings in shares of Lear Corporation (NYSE:LEA) by 16.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 216,660 shares of the auto parts company’s stock after acquiring an additional 30,988 shares during the quarter. Citigroup Inc. owned 0.32% of Lear Corporation worth $30,783,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LEA. Strs Ohio boosted its position in Lear Corporation by 0.6% during the 1st quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock worth $685,000 after acquiring an additional 30 shares during the period. Comerica Bank boosted its position in Lear Corporation by 5.4% during the 1st quarter. Comerica Bank now owns 10,262 shares of the auto parts company’s stock worth $1,463,000 after acquiring an additional 522 shares during the period. World Asset Management Inc boosted its position in Lear Corporation by 15.7% during the 1st quarter. World Asset Management Inc now owns 3,619 shares of the auto parts company’s stock worth $512,000 after acquiring an additional 492 shares during the period. UBS Asset Management Americas Inc. boosted its position in Lear Corporation by 9.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 557,862 shares of the auto parts company’s stock worth $78,982,000 after acquiring an additional 48,649 shares during the period. Finally, Gabelli Funds LLC boosted its position in Lear Corporation by 8.5% during the 1st quarter. Gabelli Funds LLC now owns 6,400 shares of the auto parts company’s stock worth $906,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.
Shares of Lear Corporation (NYSE:LEA) traded down 0.47% during midday trading on Tuesday, hitting $165.83. The stock had a trading volume of 328,485 shares. Lear Corporation has a one year low of $110.77 and a one year high of $167.95. The firm’s 50-day moving average is $148.67 and its 200 day moving average is $144.26. The company has a market capitalization of $11.29 billion, a PE ratio of 11.05 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the 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 firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the firm posted $3.66 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts expect that Lear Corporation will post $16.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors 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 1.20%. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
A number of brokerages have commented on LEA. Zacks Investment Research lowered Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub lowered 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 price objective on shares of Lear Corporation in a research report on Wednesday, July 12th. KeyCorp restated a “buy” rating and set a $180.00 price objective on shares of Lear Corporation in a research report on Sunday. Finally, Guggenheim began coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $152.67.
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.
Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corporation (NYSE:LEA).
Receive News & Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related companies with MarketBeat.com's FREE daily email newsletter.