Tredje AP fonden Sells 1590 Shares of Lear Corporation (LEA)

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Tredje AP fonden reduced its position in Lear Corporation (NYSE:LEA) by 28.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,080 shares of the auto parts company’s stock after selling 1,590 shares during the period. Tredje AP fonden’s holdings in Lear Corporation were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Lear Corporation by 23.9% during the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after purchasing an additional 148 shares in the last quarter. 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 in the last quarter. TrimTabs Asset Management LLC lifted its position in Lear Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after purchasing an additional 408 shares in the last quarter. Global X Management Co. LLC lifted its position in Lear Corporation by 30.3% during the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after purchasing an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Lear Corporation by 5.4% during the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Shares of Lear Corporation (NYSE LEA) opened at 173.08 on Friday. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $174.66. The firm’s 50-day moving average price is $149.19 and its 200-day moving average price is $144.41. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 11.53 and a beta of 1.31.

Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business earned $3.66 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Lear Corporation will post $16.55 EPS for the current fiscal year.

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

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LEA has been the topic of several research analyst reports. Guggenheim initiated coverage on Lear Corporation in a report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 target price on the stock. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Robert W. Baird reaffirmed a “buy” rating and issued a $178.00 target price on shares of Lear Corporation in a report on Friday, September 1st. Finally, KeyCorp reaffirmed a “buy” rating and issued a $180.00 target price on shares of Lear Corporation in a report on Sunday, September 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $159.93.

In related news, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 4,100 shares of the company’s stock, valued at approximately $683,511. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,345,679.79. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock valued at $1,601,681 in the last three months. Company insiders own 0.49% of the company’s stock.

About Lear Corporation

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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