Bailard Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Bailard reduced its stake in Lear Corporation by 1.88% during the most recent quarter end. The investment management company now holds a total of 23,821 shares of Lear Corporation which is valued at $2,735,365 after selling 456 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Lear Corporation makes up approximately 0.32% of Bailard’s portfolio.

Other Hedge Funds, Including , Feltz Wealth Plan boosted its stake in LEA in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 347 shares of Lear Corporation which is valued at $39,846.Her Majesty The Queen In Right Of The Province Of Alberta… reduced its stake in LEA by selling 5,100 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 81,600 shares of LEA which is valued at $9,073,920. Lear Corporation makes up approx 0.11% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Royal London Asset Management Ltd reduced its stake in LEA by selling 2,952 shares or 10.85% in the most recent quarter. The Hedge Fund company now holds 24,250 shares of LEA which is valued at $2,696,600. Lear Corporation makes up approx 0.04% of Royal London Asset Management Ltd’s portfolio.First National Bank Of Omaha reduced its stake in LEA by selling 3,519 shares or 63.53% in the most recent quarter. The Hedge Fund company now holds 2,020 shares of LEA which is valued at $229,553. Lear Corporation makes up approx 0.02% of First National Bank Of Omaha’s portfolio. Highland Capital Management added LEA to its portfolio by purchasing 4,568 company shares during the most recent quarter which is valued at $519,108. Lear Corporation makes up approx 0.04% of Highland Capital Management’s portfolio.

Lear Corporation opened for trading at $114.13 and hit $115.12 on the upside on Monday, eventually ending the session at $114.7, with a gain of 0.39% or 0.45 points. The heightened volatility saw the trading volume jump to 4,77,758 shares. Company has a market cap of $8,204 M.

On the company’s financial health, Lear Corporation reported $3.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $3.32. The company had revenue of $4724.80 million for the quarter, compared to analysts expectations of $4860.36 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS.

Many Wall Street Analysts have commented on Lear Corporation. Lear Corporation was Initiated by Seaport Global Securities to “Neutral” on Aug 9, 2016. Lear Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.

Lear Corporation is engaged in providing automotive seat systems and individual seat component parts. The Company has two segments: seating and electrical. The Company seating segment consists of the design development engineering assembly and delivery of complete seat systems. The Company is also involved in the design development engineering and manufacture of all seat components including seat structures and mechanisms seat covers and surface materials such as fabric and leather seat foam and headrests. The Company’s electrical segment consists of the design development engineering manufacture assembly and supply of electrical distribution systems and components for light vehicles. The Company has manufacturing engineering and administrative capabilities in about 34 countries with 219 locations. The Company also manufactures junction boxes and electronic control modules which are connected to the wire harness assemblies.

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