Neuberger Berman Group LLC reduced its holdings in Lear Corporation (NYSE:LEA) by 6.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,578 shares of the auto parts company’s stock after selling 489 shares during the period. Neuberger Berman Group LLC’s holdings in Lear Corporation were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank grew its stake 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 worth $109,000 after buying an additional 148 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake 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 worth $118,000 after buying an additional 48 shares in the last quarter. TrimTabs Asset Management LLC grew its stake 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 worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC grew its stake 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 worth $124,000 after buying an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake 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 worth $140,000 after buying an additional 51 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

LEA has been the subject of a number of recent research reports. Guggenheim initiated coverage on shares of Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective for the company. BidaskClub cut shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. ValuEngine cut shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Robert W. Baird reaffirmed a “buy” rating and set a $178.00 price target on shares of Lear Corporation in a research note on Friday, September 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $180.00 price target on shares of Lear Corporation in a research note on Sunday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Lear Corporation has an average rating of “Hold” and an average price target of $152.67.

Shares of Lear Corporation (LEA) opened at 166.62 on Tuesday. Lear Corporation has a one year low of $110.77 and a one year high of $167.95. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 11.10 and a beta of 1.31. The company’s 50-day moving average is $148.67 and its 200-day moving average is $144.26.

Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $4.89 billion. During the same quarter in the prior year, the firm posted $3.66 earnings per share. Lear Corporation’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, August 29th. Lear Corporation’s dividend payout ratio is currently 13.28%.

TRADEMARK VIOLATION NOTICE: “Neuberger Berman Group LLC Sells 489 Shares of Lear Corporation (LEA)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/19/neuberger-berman-group-llc-sells-489-shares-of-lear-corporation-lea.html.

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.

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.