Denali Advisors Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Denali Advisors reduced its stake in Lear Corporation by 3.39% during the most recent quarter end. The investment management company now holds a total of 105,400 shares of Lear Corporation which is valued at $11,451,710 after selling 3,700 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Lear Corporation makes up approximately 2.55% of Denali Advisors’s portfolio.

Lear Corporation closed down -1.14 points or -1.04% at $108.65 with 5,51,959 shares getting traded on Friday. Post opening the session at $109.64, the shares hit an intraday low of $107.93 and an intraday high of $109.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Capstone Asset Management Co sold out all of its stake in LEA during the most recent quarter. The investment firm sold 1,672 shares of LEA which is valued $181,663.British Columbia Investment Management Corp reduced its stake in LEA by selling 4,541 shares or 9.54% in the most recent quarter. The Hedge Fund company now holds 43,044 shares of LEA which is valued at $4,569,551. Lear Corporation makes up approx 0.04% of British Columbia Investment Management Corp’s portfolio.Creative Planning reduced its stake in LEA by selling 167 shares or 11.94% in the most recent quarter. The Hedge Fund company now holds 1,232 shares of LEA which is valued at $130,789.Foundry Partners boosted its stake in LEA in the latest quarter, The investment management firm added 28,920 additional shares and now holds a total of 76,210 shares of Lear Corporation which is valued at $8,090,454. Lear Corporation makes up approx 0.81% of Foundry Partners’s portfolio. Weaver C. Barksdale Associates sold out all of its stake in LEA during the most recent quarter. The investment firm sold 24,133 shares of LEA which is valued $2,561,959.

On the company’s financial health, Lear Corporation reported $3.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $2.88. The company had revenue of $4724.60 million for the quarter, compared to analysts expectations of $4718.40 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on Lear Corporation. Shares were Reiterated by Barclays on Jan 25, 2016 to “Equal Weight” and Lowered the Price Target to $ 116 from a previous price target of $126 .

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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