First Houston Capital Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : First Houston Capital reduced its stake in Lear Corporation by 5.04% during the most recent quarter end. The investment management company now holds a total of 21,650 shares of Lear Corporation which is valued at $2,473,513 after selling 1,150 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Lear Corporation makes up approximately 2.23% of First Houston Capital’s portfolio.

Other Hedge Funds, Including , Walleye Trading sold out all of its stake in LEA during the most recent quarter. The investment firm sold 4,261 shares of LEA which is valued $486,819.Credit Suisse Ag reduced its stake in LEA by selling 36,074 shares or 12.22% in the most recent quarter. The Hedge Fund company now holds 259,043 shares of LEA which is valued at $29,595,663. Lear Corporation makes up approx 0.04% of Credit Suisse Ag’s portfolio.Bessemer Group Inc reduced its stake in LEA by selling 8,970 shares or 92.78% in the most recent quarter. The Hedge Fund company now holds 698 shares of LEA which is valued at $79,747. Mizuho Asset Managementltd. added LEA to its portfolio by purchasing 969 company shares during the most recent quarter which is valued at $110,708. Lear Corporation makes up approx 0.02% of Mizuho Asset Managementltd.’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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