Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Lear Corporation (NYSE:LEA) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 238,962 shares of the auto parts company’s stock after selling 4,153 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.35% of Lear Corporation worth $33,952,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of LEA. Toronto Dominion Bank increased its position in shares of Lear Corporation by 23.9% in the first 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 period. Benjamin F. Edwards & Company Inc. increased its position in shares of Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC increased its position in shares of Lear Corporation by 88.7% in the first 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 period. Global X Management Co. LLC increased its position 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 valued at $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp increased its position 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 valued at $140,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Shares of Lear Corporation (NYSE:LEA) opened at 144.02 on Tuesday. The stock has a 50 day moving average price of $146.15 and a 200-day moving average price of $143.01. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $153.28. The company has a market capitalization of $9.80 billion, a PE ratio of 9.60 and a beta of 1.32.

Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business posted $3.66 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Lear Corporation will post $16.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.39%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is currently 13.28%.

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Several brokerages recently issued reports on LEA. BidaskClub downgraded shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine downgraded shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada restated a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a research report on Wednesday, July 12th. Morgan Stanley downgraded shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Finally, Zacks Investment Research upgraded shares of Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $148.64.

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

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