Lear Corporation (LEA) : Hellman Jordan Management Co Inc 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 8, 2016 with the SEC. The investment management company has sold out 4,095 shares of Lear Corporation which is valued at $470,229.
Other Hedge Funds, Including , Mufg Americas Holdings Corp reduced its stake in LEA by selling 305 shares or 32.83% in the most recent quarter. The Hedge Fund company now holds 624 shares of LEA which is valued at $71,654.Td Asset Management Inc boosted its stake in LEA in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 4,900 shares of Lear Corporation which is valued at $557,424.Bb&t Securities boosted its stake in LEA in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 2,386 shares of Lear Corporation which is valued at $271,431.Benjamin F. Edwards Company reduced its stake in LEA by selling 18 shares or 30.0% in the most recent quarter. The Hedge Fund company now holds 42 shares of LEA which is valued at $4,627.
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.