Todays Report: The Northpointe Capital LLC Reduces Stake in Lear Corp. (LEA)

The Northpointe Capital LLC Reduces Stake in Lear Corp. (LEA)

Northpointe Capital LLC decreased its stake in shares of Lear Corp. (NYSE:LEA) by 30.8% during the second quarter, Holdings Channel reports. The firm owned 15,937 shares of the company’s stock after selling 7,107 shares during the period. Northpointe Capital LLC’s holdings in Lear Corp. were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC raised its position in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the period. Creative Planning raised its position in shares of Lear Corp. by 24.4% in the second quarter. Creative Planning now owns 1,532 shares of the company’s stock valued at $156,000 after buying an additional 300 shares during the period. Quotient Investors LLC acquired a new position in shares of Lear Corp. during the second quarter valued at about $204,000. Hartford Investment Management Co. raised its position in shares of Lear Corp. by 13.3% in the second quarter. Hartford Investment Management Co. now owns 2,067 shares of the company’s stock valued at $210,000 after buying an additional 243 shares during the period. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Lear Corp. during the first quarter valued at about $214,000. Institutional investors and hedge funds own 94.70% of the company’s stock.

Shares of Lear Corp. (NYSE:LEA) traded down 0.64% during trading on Friday, reaching $121.01. 1,247,213 shares of the company were exchanged. The firm has a 50-day moving average price of $117.36 and a 200-day moving average price of $113.28. The stock has a market capitalization of $8.66 billion, a P/E ratio of 9.68 and a beta of 1.22. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00.

Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.34. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business earned $4.70 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.99%. Lear Corp.’s dividend payout ratio (DPR) is 9.58%.

Several research analysts have issued reports on the company. Goldman Sachs Group Inc. lowered Lear Corp. from a “neutral” rating to a “sell” rating and dropped their target price for the company from $116.00 to $107.00 in a research report on Thursday. Zacks Investment Research lowered Lear Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. boosted their target price on Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Citigroup Inc. boosted their target price on Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Finally, Bank of America Corp. lowered Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $127.44.

In other news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the sale, the director now owns 4,025 shares of the company’s stock, valued at approximately $479,941. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Lear Corp. 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 operates through two segments: seating and electrical.

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