Tredje AP fonden cut its holdings in shares of Lear Corporation (NYSE:LEA) by 28.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,080 shares of the auto parts company’s stock after selling 1,590 shares during the quarter. Tredje AP fonden’s holdings in Lear Corporation were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Lear Corporation by 23.9% during the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock worth $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Lear Corporation by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after buying an additional 48 shares during the period. TrimTabs Asset Management LLC lifted its position in Lear Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after buying an additional 408 shares during the period. Global X Management Co. LLC lifted its position in Lear Corporation by 30.3% during the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp lifted its position in Lear Corporation by 5.4% during the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock worth $140,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 94.33% of the company’s stock.

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LEA has been the topic of several recent analyst reports. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $149.00 to $142.00 in a research report on Thursday, June 8th. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Guggenheim initiated coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 target price on the stock. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $135.00 to $110.00 in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $150.18.

Lear Corporation (LEA) opened at 167.17 on Friday. The stock has a 50 day moving average price of $148.17 and a 200-day moving average price of $144.07. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $167.67. The stock has a market capitalization of $11.38 billion, a P/E ratio of 11.14 and a beta of 1.31.

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

The company 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 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 yield of 1.20%. Lear Corporation’s payout ratio is 13.28%.

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

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