Gerstein Fisher buys $6.3 Million stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Gerstein Fisher scooped up 90 additional shares in Lear Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 55,457 shares of Lear Corporation which is valued at $6.3 Million.Lear Corporation makes up approximately 0.87% of Gerstein Fisher’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in LEA in the latest quarter, The investment management firm added 1,753 additional shares and now holds a total of 4,182 shares of Lear Corporation which is valued at $476,915.Mufg Americas Holdings Corp reduced its stake in LEA by selling 150 shares or 13.9% in the most recent quarter. The Hedge Fund company now holds 929 shares of LEA which is valued at $105,943.Martingale Asset Management L P reduced its stake in LEA by selling 38 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 84,563 shares of LEA which is valued at $9.6 Million. Lear Corporation makes up approx 0.19% of Martingale Asset Management L P’s portfolio. Capital Fund Management S.a. added LEA to its portfolio by purchasing 9,684 company shares during the most recent quarter which is valued at $1.1 Million. Lear Corporation makes up approx 0.02% of Capital Fund Management S.a.’s portfolio.Moody Lynn Lieberson reduced its stake in LEA by selling 74 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 3,009 shares of LEA which is valued at $346,095. Lear Corporation makes up approx 0.05% of Moody Lynn Lieberson’s portfolio.

Lear Corporation opened for trading at $111.94 and hit $114.79 on the upside on Friday, eventually ending the session at $114.23, with a gain of 2.17% or 2.43 points. The heightened volatility saw the trading volume jump to 7,70,747 shares. Company has a market cap of $8,427 M.

On the company’s financial health, Lear Corporation reported $3.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.63 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $2.77. The company had revenue of $4662.90 million for the quarter, compared to analysts expectations of $4705.02 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS.

Many Wall Street Analysts have commented on Lear Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 136 from a previous price target of $124 .Company shares were Reiterated by Barclays on Apr 28, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 125 from a previous price target of $119 .

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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