Trimtabs Asset Management Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Trimtabs Asset Management reduced its stake in Lear Corporation by 14.61% during the most recent quarter end. The investment management company now holds a total of 14,627 shares of Lear Corporation which is valued at $1,626,522 after selling 2,503 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Lear Corporation makes up approximately 1.01% of Trimtabs Asset Management’s portfolio.

Other Hedge Funds, Including , Tradelink Capital sold out all of its stake in LEA during the most recent quarter. The investment firm sold 2,192 shares of LEA which is valued $243,750.Northpointe Capital reduced its stake in LEA by selling 7,107 shares or 30.84% in the most recent quarter. The Hedge Fund company now holds 15,937 shares of LEA which is valued at $1,855,704. Lear Corporation makes up approx 0.21% of Northpointe Capital’s portfolio.Wagner Bowman Management Corp reduced its stake in LEA by selling 250 shares or 5.11% in the most recent quarter. The Hedge Fund company now holds 4,639 shares of LEA which is valued at $540,165. Lear Corporation makes up approx 0.21% of Wagner Bowman Management Corp’s portfolio.Kanaly Trust Co boosted its stake in LEA in the latest quarter, The investment management firm added 17 additional shares and now holds a total of 261 shares of Lear Corporation which is valued at $29,624. Lear Corporation makes up approx 0.01% of Kanaly Trust Co’s portfolio.

Lear Corporation opened for trading at $111.38 and hit $112.64 on the upside on Thursday, eventually ending the session at $111.54, with a gain of 0.31% or 0.34 points. The heightened volatility saw the trading volume jump to 7,99,109 shares. Company has a market cap of $7,978 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 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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