Horizon Investment Services LLC Has $6.90 Million Stake in Lear Corporation (LEA)
Horizon Investment Services LLC lowered its stake in Lear Corporation (NYSE:LEA) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,572 shares of the auto parts company’s stock after selling 1,137 shares during the quarter. Lear Corporation comprises approximately 3.1% of Horizon Investment Services LLC’s holdings, making the stock its 4th largest holding. Horizon Investment Services LLC owned 0.07% of Lear Corporation worth $6,901,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings 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 valued at $118,000 after purchasing an additional 48 shares during the period. Global X Management Co. LLC increased its stake in 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 purchasing an additional 204 shares in the last quarter. Van ECK Associates Corp increased its stake in 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 purchasing an additional 51 shares in the last quarter. Private Advisor Group LLC bought a new stake in Lear Corporation in the first quarter valued at approximately $149,000. Finally, Mutual of America Capital Management LLC bought a new stake in Lear Corporation in the first quarter valued at approximately $157,000. 94.30% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on LEA shares. UBS AG lowered shares of Lear Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $158.00 to $182.00 in a report on Tuesday. Jefferies Group LLC started coverage on shares of Lear Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $197.00 price target for the company. Buckingham Research lowered shares of Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a report on Tuesday, September 26th. They noted that the move was a valuation call. Cowen and Company assumed coverage on shares of Lear Corporation in a research report on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective for the company. Finally, KeyCorp restated a “buy” rating and issued a $180.00 price objective on shares of Lear Corporation in a research report on Sunday, September 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $161.31.
In other Lear Corporation news, Director Jonathan F. Foster sold 2,854 shares of Lear Corporation stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total transaction of $494,855.06. Following the completion of the transaction, the director now owns 7,761 shares in the company, valued at approximately $1,345,679.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at approximately $683,511. The disclosure for this sale can be found here. Insiders have sold a total of 9,404 shares of company stock valued at $1,601,681 in the last 90 days. 0.49% of the stock is currently owned by company insiders.
Lear Corporation (LEA) traded up 0.74% on Wednesday, hitting $175.56. The company had a trading volume of 220,054 shares. The company has a market capitalization of $11.95 billion, a P/E ratio of 11.70 and a beta of 1.35. Lear Corporation has a one year low of $110.77 and a one year high of $177.24. The stock’s 50-day moving average price is $156.87 and its 200 day moving average price is $146.37.
Lear Corporation (NYSE:LEA) last issued 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. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $3.66 EPS. Lear Corporation’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Lear Corporation will post $16.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
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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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