Scotia Capital Inc. Cuts Position in Lear Corporation (LEA)

Scotia Capital Inc. trimmed its position in Lear Corporation (NYSE:LEA) by 29.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,839 shares of the auto parts company’s stock after selling 755 shares during the period. Scotia Capital Inc.’s holdings in Lear Corporation were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position 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 valued at $118,000 after acquiring an additional 48 shares during the period. Global X Management Co. LLC increased its position 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 valued at $124,000 after acquiring an additional 204 shares during the period. Parallel Advisors LLC increased its position in shares of Lear Corporation by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after acquiring an additional 42 shares during the period. Systematic Financial Management LP increased its position in shares of Lear Corporation by 144.0% in the 2nd quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock valued at $217,000 after acquiring an additional 900 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Lear Corporation by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock valued at $223,000 after acquiring an additional 20 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/18/scotia-capital-inc-cuts-position-in-lear-corporation-lea.html.

Several equities analysts recently issued reports on LEA shares. Robert W. Baird reissued a “buy” rating and issued a $178.00 target price on shares of Lear Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Guggenheim assumed coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price target on the stock. Barclays PLC increased their price target on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Finally, Buckingham Research downgraded Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Lear Corporation has an average rating of “Hold” and a consensus target price of $167.60.

Lear Corporation (NYSE:LEA) last issued its quarterly 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 net margin of 5.51% and a return on equity of 32.34%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $3.66 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.

In other news, SVP Mel Stephens sold 2,411 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $172.88, for a total transaction of $416,813.68. Following the transaction, the senior vice president now directly owns 44,484 shares in the company, valued at $7,690,393.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction dated Monday, September 18th. The stock w

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position 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 valued at $118,000 after acquiring an additional 48 shares during the period. Global X Management Co. LLC increased its position 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 valued at $124,000 after acquiring an additional 204 shares during the period. Parallel Advisors LLC increased its position in shares of Lear Corporation by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after acquiring an additional 42 shares during the period. Systematic Financial Management LP increased its position in shares of Lear Corporation by 144.0% in the 2nd quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock valued at $217,000 after acquiring an additional 900 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Lear Corporation by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock valued at $223,000 after acquiring an additional 20 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/18/scotia-capital-inc-cuts-position-in-lear-corporation-lea.html.

Several equities analysts recently issued reports on LEA shares. Robert W. Baird reissued a “buy” rating and issued a $178.00 target price on shares of Lear Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Guggenheim assumed coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price target on the stock. Barclays PLC increased their price target on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Finally, Buckingham Research downgraded Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Lear Corporation has an average rating of “Hold” and a consensus target price of $167.60.

Lear Corporation (NYSE:LEA) last issued its quarterly 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 net margin of 5.51% and a return on equity of 32.34%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $3.66 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. Lear Corporation’s dividend payout ratio (DPR) is 13.28%.

In other news, SVP Mel Stephens sold 2,411 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $172.88, for a total transaction of $416,813.68. Following the transaction, the senior vice president now directly owns 44,484 shares in the company, valued at $7,690,393.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the transaction, the director now owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,404 shares of company stock worth $1,601,681. Company insiders own 0.49% of the company’s stock.

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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