Lear Corporation (LEA) Shares Sold by State Street Corp

State Street Corp reduced its stake in shares of Lear Corporation (NYSE:LEA) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and 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 institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. lifted its stake in Lear Corporation by 1,617.8% in 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 in the last quarter. Balyasny Asset Management LLC raised its stake in shares of Lear Corporation by 7,465.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after purchasing an additional 706,708 shares in the last quarter. Ardevora Asset Management LLP bought a new stake in shares of Lear Corporation during the 2nd quarter worth approximately $34,540,000. Harbour Capital Advisors LLC raised its stake in shares of Lear Corporation by 14,108.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock worth $1,575,000 after purchasing an additional 222,201 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake 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 worth $885,022,000 after purchasing an additional 173,513 shares in the last quarter. Institutional investors and hedge funds own 94.18% of the company’s stock.

Lear Corporation (LEA) traded down 0.826% during mid-day trading on Friday, reaching $175.697. The company had a trading volume of 70,436 shares. The stock has a market capitalization of $11.96 billion, a P/E ratio of 11.706 and a beta of 1.35. Lear Corporation has a 12-month low of $112.54 and a 12-month high of $177.72. The stock has a 50 day moving average price of $168.88 and a 200-day moving average price of $150.39.

Lear Corporation (NYSE:LEA) last posted its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a net margin of 5.79% and a return on equity of 33.06%. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Lear Corporation will post $16.64 EPS for the current fiscal year.

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In related news, SVP Mel Stephens sold 2,411 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $172.88, for a total value of $416,813.68. Following the completion of the transaction, the senior vice president now owns 44,484 shares of the company’s stock, valued at $7,690,393.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan F. Foster sold 2,854 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total transaction of $494,855.06. Following the completion of the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. Insiders have sold 9,404 shares of company stock valued at $1,601,681 in the last ninety days. Insiders own 0.49% of the company’s stock.

LEA has been the topic of a number of analyst reports. Barclays PLC set a $171.00 price objective on Lear Corporation and gave the stock a “hold” rating in a research note on Friday, October 20th. UBS AG cut Lear Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Jefferies Group LLC began coverage on Lear Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price target on the stock. Robert W. Baird restated a “buy” rating and issued a $178.00 price target on shares of Lear Corporation in a research note on Friday, September 1st. Finally, BidaskClub upgraded Lear Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $173.13.

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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