Nomura Holdings Inc. bought a new position in Lear Corporation (NYSE:LEA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,032 shares of the auto parts company’s stock, valued at approximately $858,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its stake in shares of Lear Corporation by 1.3% in the second 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 in the last quarter. CIBC World Markets Inc. lifted its position in Lear Corporation by 0.3% during the second quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock valued at $1,798,000 after purchasing an additional 40 shares during the period. Parallel Advisors LLC lifted its position in Lear Corporation by 3.9% during the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after purchasing an additional 42 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Lear Corporation by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 48 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Lear Corporation by 2.8% during the second quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock valued at $346,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 94.18% of the company’s stock.
Lear Corporation (LEA) traded down 1.25% during trading on Friday, reaching $174.94. 612,105 shares of the company’s stock traded hands. The company has a 50-day moving average price of $168.88 and a 200 day moving average price of $150.39. The firm has a market capitalization of $11.91 billion, a PE ratio of 11.66 and a beta of 1.35. Lear Corporation has a one year low of $112.54 and a one year high of $177.72.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.16. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.84 billion. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. On average, analysts anticipate that Lear Corporation will post $16.79 earnings per share for the current fiscal year.
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In other news, Director Jonathan F. Foster sold 2,854 shares of Lear Corporation stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction dated 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 directly owns 44,484 shares in the company, valued at $7,690,393.92. The disclosure for this sale can be found here. Insiders sold a total of 9,404 shares of company stock worth $1,601,681 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.
A number of research analysts recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Lear Corporation from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $183.00 to $213.00 in a research report on Thursday. Barclays PLC upped their target price on shares of Lear Corporation from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Thursday. Cowen and Company reaffirmed a “buy” rating and set a $196.00 target price on shares of Lear Corporation in a report on Friday. Guggenheim cut shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a report on Thursday. Finally, Deutsche Bank AG upped their target price on shares of Lear Corporation from $167.00 to $176.00 and gave the company a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target 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.
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