Financial Institutions Selling Lear’s Shares in Q3

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Lear Corp. (NYSE:LEA).

SEC data indicate these insiders have sold Lear Corp.’s stock since 06/30/2011:

  • Scott Raymond E: act as EVP & President, Seating. On 11/15/2011, sold 28,282 shares, worth $1,213,300.
  • Simoncini Matthew: act as President & CEO(Click HERE for the list of stocks that their CEOs have bought). On 11/15/2011, sold 28,282 shares, worth $1,213,300.
  • Larkin Terrence B: act as EVP, Business Dev & Gen Cnsl. On 11/15/2011, sold 28,282 shares, worth $1,213,300.
  • Orsini Frank C: act as Interim President, EPMS. On 11/15/2011, sold 9,666 shares, worth $414,700.
  • Stephens Mel: act as Sr VP Comm, Corp Relation & HR. On 11/15/2011, sold 9,662 shares, worth $414,500.

SEC data indicate that these institutions significantly reduced their stock shares of Lear Corp. in Q3 2011:

  • RENAISSANCE GROUP LLC: On 06/30/2011, held 1,032,503 shares, worth $54,898,185. On 09/30/2011, held 0 shares.
  • MARATHON ASSET MANAGEMENT LP: On 06/30/2011, held 962,321 shares, worth $51,166,608. On 09/30/2011, held 0 shares.
  • CITADEL ADVISORS LLC: On 06/30/2011, held 775,227 shares, worth $41,218,820. On 09/30/2011, held 0 shares.
  • STANDARD LIFE INVESTMENTS LTD: On 06/30/2011, held 575,096 shares, worth $30,577,854. On 09/30/2011, held 0 shares.
  • EAGLE ASSET MANAGEMENT INC: On 06/30/2011, held 512,415 shares, worth $27,245,106. On 09/30/2011, held 0 shares.

About the company: Lear Corporation manufactures automobile parts. The Company produces seating systems; wiring harnesses; terminals; connectors; junction boxes; body control electronics; wireless products; and audio systems.

Competitors to Watch: Johnson Controls, Inc. (NYSE:JCI), Visteon Corporation (NYSE:VC), Gentex Corporation (NASDAQ:GNTX), General Electric (NYSE:GE), United Technologies Corp. (NYSE:UTX), Honeywell Intl. Inc. (NYSE:HON).

(Note: Data regarding Lear Corp.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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