Quantitative Systematic Strategies LLC Has $518,000 Position in Lear Corporation (NYSE:LEA)
Quantitative Systematic Strategies LLC cut its stake in shares of Lear Corporation (NYSE:LEA) by 79.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,704 shares of the auto parts company’s stock after selling 14,690 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Lear Corporation were worth $518,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Baystate Wealth Management LLC boosted its stake in Lear Corporation by 0.9% in the first quarter. Baystate Wealth Management LLC now owns 1,095 shares of the auto parts company’s stock valued at $145,000 after buying an additional 10 shares in the last quarter. State of Alaska Department of Revenue increased its position in Lear Corporation by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock valued at $223,000 after buying an additional 20 shares during the last quarter. CENTRAL TRUST Co increased its position in Lear Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 2,327 shares of the auto parts company’s stock valued at $329,000 after buying an additional 25 shares during the last quarter. IFP Advisors Inc increased its position in Lear Corporation by 1.8% in the first quarter. IFP Advisors Inc now owns 1,393 shares of the auto parts company’s stock valued at $197,000 after buying an additional 25 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Lear Corporation by 0.6% in the first quarter. Strs Ohio now owns 4,839 shares of the auto parts company’s stock worth $685,000 after buying an additional 30 shares in the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the company posted $3.66 EPS. The company’s revenue was up 8.4% on a year-over-year basis.
A number of research analysts recently weighed in on the company. Barclays PLC lifted their target price on Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a report on Thursday, July 27th. BidaskClub cut Lear Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada restated a “hold” rating and set a $148.00 price objective on shares of Lear Corporation in a research note on Monday, April 10th. Robert W. Baird upgraded Lear Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $161.00 in a research note on Thursday, April 20th. Finally, ValuEngine cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $148.64.
In related news, Director Greg C. Smith sold 2,266 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now directly owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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.
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