UBS Asset Management Americas Inc. Has $80.80 Million Holdings in Lear Corporation (LEA)
UBS Asset Management Americas Inc. grew its holdings in shares of Lear Corporation (NYSE:LEA) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,705 shares of the auto parts company’s stock after buying an additional 10,843 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.84% of Lear Corporation worth $80,802,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of LEA. Strs Ohio lifted 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 buying an additional 30 shares in the last quarter. Comerica Bank lifted 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 buying an additional 522 shares in the last quarter. World Asset Management Inc lifted 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 buying an additional 492 shares in the last quarter. Gabelli Funds LLC lifted 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 buying an additional 500 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in Lear Corporation by 1.0% during the 1st quarter. TD Asset Management Inc. now owns 4,225 shares of the auto parts company’s stock worth $598,000 after buying an additional 40 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.
In other Lear Corporation news, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the sale, the director now owns 4,100 shares of the company’s stock, valued at $683,511. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.
LEA has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research report on Friday, September 1st. Zacks Investment Research cut shares of Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Bank of America Corporation cut shares of Lear Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $135.00 to $110.00 in a research report on Friday, June 16th. Guggenheim initiated coverage on shares of Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price target on the stock. Finally, Barclays PLC boosted their price target on shares of Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $152.67.
Lear Corporation (NYSE LEA) opened at 168.43 on Friday. The firm has a 50-day moving average of $149.19 and a 200 day moving average of $144.41. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $168.89. The company has a market capitalization of $11.46 billion, a PE ratio of 11.22 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, topping the 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 net margin of 5.51% and a return on equity of 32.34%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.66 earnings per share. Analysts forecast that Lear Corporation will post $16.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, August 29th. Lear Corporation’s dividend payout ratio 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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