Stevens Capital Management LP Has $3.98 Million Holdings in Lear Corporation (LEA)

Stevens Capital Management LP reduced its position in shares of Lear Corporation (NYSE:LEA) by 55.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,982 shares of the auto parts company’s stock after selling 34,719 shares during the quarter. Stevens Capital Management LP’s holdings in Lear Corporation were worth $3,976,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LEA. Strs Ohio increased its stake in Lear Corporation by 0.6% during the 1st quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock valued at $685,000 after purchasing an additional 30 shares in the last quarter. Comerica Bank increased its stake in Lear Corporation by 5.4% during the 1st quarter. Comerica Bank now owns 10,262 shares of the auto parts company’s stock valued at $1,463,000 after purchasing an additional 522 shares in the last quarter. World Asset Management Inc increased its stake in Lear Corporation by 15.7% during the 1st quarter. World Asset Management Inc now owns 3,619 shares of the auto parts company’s stock valued at $512,000 after purchasing an additional 492 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Lear Corporation by 9.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 557,862 shares of the auto parts company’s stock valued at $78,982,000 after purchasing an additional 48,649 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in Lear Corporation by 8.5% during the 1st quarter. Gabelli Funds LLC now owns 6,400 shares of the auto parts company’s stock valued at $906,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

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Shares of Lear Corporation (LEA) opened at 166.65 on Tuesday. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $167.95. The stock has a 50 day moving average of $148.67 and a 200-day moving average of $144.26. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 11.10 and a beta of 1.31.

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 Thomson Reuters’ consensus estimate of $4.11 by $0.28. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. Lear Corporation’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $3.66 EPS. On average, analysts anticipate that Lear Corporation will post $16.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Thursday, August 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s payout ratio is currently 13.28%.

A number of research firms have weighed in on LEA. KeyCorp restated a “buy” rating and set a $180.00 price objective on shares of Lear Corporation in a research note on Sunday. BidaskClub lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Royal Bank Of Canada restated a “hold” rating and set a $157.00 price objective on shares of Lear Corporation in a research note on Wednesday, July 12th. Finally, Morgan Stanley lowered shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $149.00 to $142.00 in a research note on Thursday, June 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $152.67.

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.

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

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