Lau Associates buys $1,073,219 stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Lau Associates scooped up 400 additional shares in Lear Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 8,623 shares of Lear Corporation which is valued at $1,073,219.Lear Corporation makes up approximately 1.09% of Lau Associates’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in LEA by selling 444 shares or 8.14% in the most recent quarter. The Hedge Fund company now holds 5,010 shares of LEA which is valued at $623,545. Lear Corporation makes up approx 0.13% of Beacon Financial Group’s portfolio.

Lear Corporation opened for trading at $121.59 and hit $122.51 on the upside on Tuesday, eventually ending the session at $121.25, with a gain of 0.21% or 0.25 points. The heightened volatility saw the trading volume jump to 5,97,570 shares. Company has a market cap of $8,673 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 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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