Lear Corporation (NYSE:LEA) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Lear Corporation (NYSE:LEA) by 88.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,249 shares of the auto parts company’s stock after acquiring an additional 3,409 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lear were worth $640,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Lear by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company’s stock worth $614,782,000 after purchasing an additional 447,835 shares during the period. Dimensional Fund Advisors LP increased its stake in Lear by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company’s stock worth $247,566,000 after purchasing an additional 283,838 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Lear by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company’s stock worth $209,531,000 after buying an additional 498,918 shares during the period. First Trust Advisors LP lifted its stake in Lear by 45.9% during the fourth quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company’s stock valued at $107,313,000 after buying an additional 356,760 shares in the last quarter. Finally, Lyrical Asset Management LP boosted its holdings in shares of Lear by 2.9% in the fourth quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company’s stock worth $100,069,000 after buying an additional 29,370 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Price Performance

LEA opened at $103.58 on Friday. The stock has a fifty day moving average price of $91.36 and a 200 day moving average price of $91.64. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $126.85. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.58 and a beta of 1.29.

Lear (NYSE:LEA) last posted its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.48. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $3.18 EPS. Analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, June 5th. Lear’s payout ratio is presently 36.11%.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $92.86, for a total transaction of $110,224.82. Following the transaction, the director owned 84 shares in the company, valued at $7,800.24. This represents a 93.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LEA shares. JPMorgan Chase & Co. upped their price target on shares of Lear from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. UBS Group increased their target price on Lear from $83.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Barclays cut Lear from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. Wall Street Zen raised Lear from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Finally, Citigroup raised their price objective on Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.55.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.