Apollo Management Holdings Exits Position in Lear Corporation (LEA)

Lear Corporation (LEA) : Apollo Management Holdings has sold out all of its stake in Lear Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 1,505 shares of Lear Corporation which is valued at $171,946.

Other Hedge Funds, Including , First Republic Investment Management boosted its stake in LEA in the latest quarter, The investment management firm added 88 additional shares and now holds a total of 3,059 shares of Lear Corporation which is valued at $349,491.Norges Bank boosted its stake in LEA in the latest quarter, The investment management firm added 96,151 additional shares and now holds a total of 697,686 shares of Lear Corporation which is valued at $79,710,626. Lear Corporation makes up approx 0.04% of Norges Bank’s portfolio.New York State Common Retirement Fund boosted its stake in LEA in the latest quarter, The investment management firm added 1,333 additional shares and now holds a total of 367,725 shares of Lear Corporation which is valued at $42,012,581. Lear Corporation makes up approx 0.06% of New York State Common Retirement Fund’s portfolio.Duncker Streett Co Inc reduced its stake in LEA by selling 200 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 7,866 shares of LEA which is valued at $892,791. Lear Corporation makes up approx 0.31% of Duncker Streett Co Inc’s portfolio.

Lear Corporation closed down -0.54 points or -0.46% at $115.75 with 7,25,512 shares getting traded on Thursday. Post opening the session at $116, the shares hit an intraday low of $115.12 and an intraday high of $118.17 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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