Barings LLC Maintains Position in Lear Corporation (LEA)

Barings LLC continued to hold its stake in shares of Lear Corporation (NYSE:LEA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,070 shares of the auto parts company’s stock at the close of the second quarter. Barings LLC’s holdings in Lear Corporation were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Lear Corporation by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after buying an additional 48 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after buying an additional 204 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Lear Corporation in the first quarter worth approximately $157,000. Finally, Parallel Advisors LLC lifted its stake in shares of Lear Corporation by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock worth $166,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

In other Lear Corporation news, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $172.88, for a total transaction of $416,813.68. Following the completion of the sale, the senior vice president now directly owns 44,484 shares in the company, valued at approximately $7,690,393.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation 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 of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,404 shares of company stock valued at $1,601,681. Company insiders own 0.49% of the company’s stock.

Several research analysts have recently issued reports on the stock. UBS AG downgraded shares of Lear Corporation from a “buy” rating to a “neutral” rating and upped their target price for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Jefferies Group LLC assumed coverage on shares of Lear Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 target price on the stock. Buckingham Research downgraded shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 target price on the stock. in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Cowen and Company assumed coverage on shares of Lear Corporation in a research note on Monday, September 25th. They issued an “outperform” rating and a $195.00 target price on the stock. Finally, KeyCorp reiterated a “buy” rating and issued a $180.00 target price on shares of Lear Corporation in a research note on Sunday, September 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $165.36.

Shares of Lear Corporation (NYSE:LEA) opened at 173.75 on Friday. The stock has a market capitalization of $11.83 billion, a PE ratio of 11.58 and a beta of 1.35. Lear Corporation has a one year low of $110.77 and a one year high of $177.24. The firm’s 50-day moving average is $159.53 and its 200-day moving average is $147.00.

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, beating 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 business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the business posted $3.66 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Lear Corporation will post $16.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, August 29th. Lear Corporation’s payout ratio is 13.28%.

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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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