British Airways Pensions Investment Management Ltd Lowers stake in Lear Corporation (LEA)

Lear Corporation (LEA) : British Airways Pensions Investment Management Ltd reduced its stake in Lear Corporation by 32.96% during the most recent quarter end. The investment management company now holds a total of 145,315 shares of Lear Corporation which is valued at $16,920,479 after selling 71,428 shares in Lear Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Lear Corporation makes up approximately 0.50% of British Airways Pensions Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp added LEA to its portfolio by purchasing 108,580 company shares during the most recent quarter which is valued at $12,643,055. Lear Corporation makes up approx 0.37% of Smith Asset Management Group Lp’s portfolio. Jlb Associates Inc added LEA to its portfolio by purchasing 3,744 company shares during the most recent quarter which is valued at $424,944. Lear Corporation makes up approx 0.12% of Jlb Associates Inc’s portfolio.Acadian Asset Management reduced its stake in LEA by selling 10,112 shares or 20.09% in the most recent quarter. The Hedge Fund company now holds 40,213 shares of LEA which is valued at $4,569,805. Lear Corporation makes up approx 0.02% of Acadian Asset Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LEA by selling 10,940 shares or 7.09% in the most recent quarter. The Hedge Fund company now holds 143,340 shares of LEA which is valued at $15,252,809. Lear Corporation makes up approx 0.07% of Bnp Paribas Arbitrage Sa’s portfolio.

Lear Corporation opened for trading at $110.58 and hit $115.28 on the upside on Friday, eventually ending the session at $113.45, with a gain of 3.08% or 3.39 points. The heightened volatility saw the trading volume jump to 13,64,448 shares. Company has a market cap of $8,370 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. 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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