Saddle Road Partners buys $557,760 stake in Lear Corporation (LEA)

Lear Corporation (LEA) : Saddle Road Partners 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 Apr 21, 2016. The investment management firm now holds a total of 4,946 shares of Lear Corporation which is valued at $557,760.Lear Corporation makes up approximately 0.12% of Saddle Road Partners’s portfolio.

Lear Corporation closed down -0.13 points or -0.11% at $116.01 with 16,38,291 shares getting traded on Wednesday. Post opening the session at $119.47, the shares hit an intraday low of $115.31 and an intraday high of $120 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Advisory Services Network reduced its stake in LEA by selling 15 shares or 19.74% in the most recent quarter. The Hedge Fund company now holds 61 shares of LEA which is valued at $6,879.Capital One National Association reduced its stake in LEA by selling 792 shares or 23.69% in the most recent quarter. The Hedge Fund company now holds 2,551 shares of LEA which is valued at $287,676. Lear Corporation makes up approx 0.03% of Capital One National Association’s portfolio.Sigma Planning Corp reduced its stake in LEA by selling 333 shares or 12.82% in the most recent quarter. The Hedge Fund company now holds 2,265 shares of LEA which is valued at $255,424. Lear Corporation makes up approx 0.03% of Sigma Planning Corp’s portfolio. Acadian Asset Management added LEA to its portfolio by purchasing 50,325 company shares during the most recent quarter which is valued at $5,467,811. Lear Corporation makes up approx 0.03% of Acadian Asset Management’s portfolio.Central Trust Co boosted its stake in LEA in the latest quarter, The investment management firm added 1,175 additional shares and now holds a total of 2,117 shares of Lear Corporation which is valued at $230,012. Lear Corporation makes up approx 0.02% of Central Trust Co’s portfolio.

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. 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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