BT Investment Management Ltd Takes Position in Lear Corporation (LEA)

BT Investment Management Ltd purchased a new stake in Lear Corporation (NYSE:LEA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,522 shares of the auto parts company’s stock, valued at approximately $6,326,000. BT Investment Management Ltd owned approximately 0.07% of Lear Corporation as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Lear Corporation by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

Lear Corporation (NYSE LEA) traded up 2.24% during mid-day trading on Friday, hitting $167.17. The company had a trading volume of 1,340,354 shares. The company has a market cap of $11.38 billion, a PE ratio of 11.14 and a beta of 1.31. Lear Corporation has a one year low of $110.77 and a one year high of $167.67. The company’s 50 day moving average price is $148.17 and its 200-day moving average price is $144.07.

Lear Corporation (NYSE:LEA) last announced its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.28. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. Lear Corporation’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.66 earnings per share. Equities research analysts anticipate that Lear Corporation will post $16.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.

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A number of brokerages have recently weighed in on LEA. Robert W. Baird restated a “buy” rating and issued a $178.00 price target on shares of Lear Corporation in a research report on Friday, September 1st. BidaskClub upgraded Lear Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Barclays PLC raised their price target on Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $157.00 price target on shares of Lear Corporation in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $150.18.

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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