FDx Advisors Inc. increased its position in shares of Lear Corporation (NYSE:LEA) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,819 shares of the auto parts company’s stock after purchasing an additional 319 shares during the quarter. FDx Advisors Inc.’s holdings in Lear Corporation were worth $1,526,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in Lear Corporation during the third quarter worth $1,918,000. Candriam Luxembourg S.C.A. raised its holdings in Lear Corporation by 105.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 3,992 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 2,050 shares during the last quarter. Pitcairn Co. increased its position in Lear Corporation by 11.4% during the third quarter. Pitcairn Co. now owns 18,184 shares of the auto parts company’s stock worth $3,147,000 after buying an additional 1,858 shares in the last quarter. Hennessy Advisors Inc. increased its position in Lear Corporation by 4.3% during the third quarter. Hennessy Advisors Inc. now owns 14,500 shares of the auto parts company’s stock worth $2,510,000 after buying an additional 600 shares in the last quarter. Finally, Swiss National Bank increased its position in Lear Corporation by 0.5% during the third quarter. Swiss National Bank now owns 254,400 shares of the auto parts company’s stock worth $44,032,000 after buying an additional 1,200 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.
LEA has been the subject of several recent research reports. Zacks Investment Research raised Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Barclays PLC raised their price target on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Robert W. Baird reissued a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research report on Friday, September 1st. Finally, KeyCorp reissued a “buy” rating and set a $180.00 price target on shares of Lear Corporation in a research report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Lear Corporation currently has a consensus rating of “Hold” and a consensus target price of $173.13.
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In related news, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares in the company, valued at $683,511. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction 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 in the company, valued at approximately $7,690,393.92. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock worth $1,601,681 in the last quarter. 0.49% of the stock is owned by insiders.
Shares of Lear Corporation (NYSE:LEA) opened at $174.36 on Tuesday. The company has a market capitalization of $11,852.18, a price-to-earnings ratio of 10.68, a PEG ratio of 1.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.09. Lear Corporation has a 1 year low of $119.47 and a 1 year high of $178.80.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the Zacks’ consensus estimate of $3.80 by $0.16. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. analysts expect that Lear Corporation will post 16.84 EPS for the current year.
Lear Corporation Company 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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