J.p. Marvel Investment Advisors Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : J.p. Marvel Investment Advisors reduced its stake in Lear Corporation by 0.35% during the most recent quarter end. The investment management company now holds a total of 92,961 shares of Lear Corporation which is valued at $11 Million after selling 327 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on May 26, 2016.Lear Corporation makes up approximately 3.78% of J.p. Marvel Investment Advisors’s portfolio.

Other Hedge Funds, Including , Etrade Capital Management boosted its stake in LEA in the latest quarter, The investment management firm added 591 additional shares and now holds a total of 3,545 shares of Lear Corporation which is valued at $404,945. Lear Corporation makes up approx 0.02% of Etrade Capital Management’s portfolio.Paradice Investment Management boosted its stake in LEA in the latest quarter, The investment management firm added 20,007 additional shares and now holds a total of 373,656 shares of Lear Corporation which is valued at $42.6 Million. Lear Corporation makes up approx 5.66% of Paradice Investment Management’s portfolio.Boston Partners reduced its stake in LEA by selling 258,108 shares or 6.28% in the most recent quarter. The Hedge Fund company now holds 3,852,472 shares of LEA which is valued at $439.3 Million. Lear Corporation makes up approx 0.65% of Boston Partners’s portfolio.Thrivent Financial For Lutherans reduced its stake in LEA by selling 23,790 shares or 22.82% in the most recent quarter. The Hedge Fund company now holds 80,450 shares of LEA which is valued at $9.2 Million. Lear Corporation makes up approx 0.05% of Thrivent Financial For Lutherans’s portfolio.Bessemer Group Inc boosted its stake in LEA in the latest quarter, The investment management firm added 8,900 additional shares and now holds a total of 9,668 shares of Lear Corporation which is valued at $1.1 Million. Lear Corporation makes up approx 0.01% of Bessemer Group Inc’s portfolio.

Lear Corporation closed down -1.27 points or -1.07% at $117.49 with 9,84,012 shares getting traded on Wednesday. Post opening the session at $117.61, the shares hit an intraday low of $114.9 and an intraday high of $117.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

Investors should note that on May 19, 2016, Lear Corporation announced a cash dividend of $0.3000. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 30, 2016.

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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