State Street Corp lowered its stake in Lear Corporation (NYSE:LEA) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,613,167 shares of the auto parts company’s stock after selling 112,510 shares during the quarter. State Street Corp owned about 2.37% of Lear Corporation worth $229,201,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Lear Corporation by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock worth $223,000 after buying an additional 20 shares during the period. CIBC World Markets Inc. increased its holdings in Lear Corporation by 0.3% during the 2nd quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock worth $1,798,000 after purchasing an additional 40 shares in the last quarter. Parallel Advisors LLC increased its holdings in Lear Corporation by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after purchasing an additional 42 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Lear Corporation by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after purchasing an additional 48 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Lear Corporation by 2.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock worth $346,000 after purchasing an additional 66 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

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In related news, Director Jonathan F. Foster sold 2,854 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the sale, the director now directly owns 7,761 shares in the company, valued at approximately $1,345,679.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry D. G. Wallace sold 4,139 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total transaction of $690,012.69. Following the sale, the director now owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. Insiders have sold a total of 9,404 shares of company stock worth $1,601,681 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Shares of Lear Corporation (NYSE LEA) opened at 173.04 on Wednesday. The firm has a market capitalization of $11.78 billion, a P/E ratio of 11.53 and a beta of 1.35. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $177.24. The firm’s 50-day moving average is $164.19 and its 200 day moving average is $148.37.

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, beating the Zacks’ 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 firm 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 firm earned $3.66 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lear Corporation will post $16.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Thursday, August 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, August 29th. Lear Corporation’s payout ratio is currently 13.28%.

A number of research firms have issued reports on LEA. Zacks Investment Research upgraded Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a report on Wednesday. Jefferies Group LLC began coverage on Lear Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $197.00 target price for the company. KeyCorp reiterated a “buy” rating and set a $180.00 target price on shares of Lear Corporation in a report on Sunday, September 17th. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, UBS AG cut Lear Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the company from $158.00 to $182.00 in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $167.60.

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.

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

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