Investec Asset Management PTY Ltd Holds Holdings in Lear Corporation (LEA)

Investec Asset Management PTY Ltd maintained its position in shares of Lear Corporation (NYSE:LEA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,050 shares of the auto parts company’s stock at the close of the 2nd quarter. Investec Asset Management PTY Ltd’s holdings in Lear Corporation were worth $712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEA. Toronto Dominion Bank boosted its holdings in shares of Lear Corporation by 23.9% in the 1st quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lear Corporation by 6.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares during the last quarter. TrimTabs Asset Management LLC boosted its holdings in shares of Lear Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Lear Corporation by 30.3% in the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Lear Corporation by 5.4% in the 1st quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after buying an additional 51 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

LEA has been the subject of several recent analyst reports. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $149.00 to $142.00 in a report on Thursday, June 8th. Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $135.00 to $110.00 in a report on Friday, June 16th. ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Guggenheim initiated coverage on Lear Corporation in a report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Lear Corporation has an average rating of “Hold” and a consensus target price of $152.67.

Lear Corporation (NYSE LEA) traded down 0.04% during midday trading on Monday, reaching $167.10. The company had a trading volume of 222,984 shares. The stock’s 50 day moving average is $148.17 and its 200 day moving average is $144.07. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $167.95. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 11.13 and a beta of 1.31.

Lear Corporation (NYSE:LEA) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $3.66 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Lear Corporation will post $16.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. Lear Corporation’s dividend payout ratio is presently 13.28%.

TRADEMARK VIOLATION NOTICE: “Investec Asset Management PTY Ltd Holds Holdings in Lear Corporation (LEA)” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2017/09/18/investec-asset-management-pty-ltd-holds-holdings-in-lear-corporation-lea.html.

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.

Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corporation (NYSE:LEA).

Institutional Ownership by Quarter for Lear Corporation (NYSE:LEA)

Receive News & Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply