Cubic Asset Management LLC trimmed its position in shares of Lear Corporation (NYSE:LEA) by 51.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,346 shares of the auto parts company’s stock after selling 16,069 shares during the quarter. Cubic Asset Management LLC’s holdings in Lear Corporation were worth $2,656,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Balyasny Asset Management LLC grew its holdings in Lear Corporation by 7,465.0% during the second quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after buying an additional 706,708 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Lear Corporation during the 2nd quarter valued at $485,000. Ardevora Asset Management LLP purchased a new position in shares of Lear Corporation during the 2nd quarter valued at $34,540,000. Harbour Capital Advisors LLC lifted its position in shares of Lear Corporation by 14,108.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock valued at $1,575,000 after buying an additional 222,201 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Lear Corporation by 25.3% during the 3rd quarter. APG Asset Management N.V. now owns 788,621 shares of the auto parts company’s stock valued at $136,495,000 after purchasing an additional 159,000 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Lear Corporation (NYSE LEA) traded down $1.07 during trading on Tuesday, hitting $174.36. The stock had a trading volume of 257,700 shares, compared to its average volume of 680,997. Lear Corporation has a fifty-two week low of $119.47 and a fifty-two week high of $178.80. The stock has a market capitalization of $11,852.18, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. analysts forecast that Lear Corporation will post 16.84 earnings per share for the current year.
A number of equities analysts have weighed in on LEA shares. Guggenheim lowered Lear Corporation from a “buy” rating to a “neutral” rating and set a $167.00 target price on the stock. in a research note on Thursday, October 26th. Barclays PLC set a $171.00 target price on Lear Corporation and gave the company a “hold” rating in a report on Friday, October 20th. UBS AG cut Lear Corporation from a “buy” rating to a “neutral” rating and increased their target price for the company from $158.00 to $182.00 in a report on Tuesday, October 3rd. Jefferies Group LLC started coverage on Lear Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $197.00 target price for the company. Finally, Robert W. Baird restated a “buy” rating and set a $178.00 target price on shares of Lear Corporation in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Lear Corporation presently has a consensus rating of “Hold” and an average target price of $173.13.
In other Lear Corporation news, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the sale, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan F. Foster sold 2,854 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the sale, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock worth $1,601,681 over the last ninety days. Insiders own 0.49% of the company’s stock.
Lear Corporation 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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