Meeder Asset Management Inc. Sells 52,486 Shares of Lear Corporation $LEA

Meeder Asset Management Inc. lowered its stake in Lear Corporation (NYSE:LEA) by 88.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,802 shares of the auto parts company’s stock after selling 52,486 shares during the period. Meeder Asset Management Inc.’s holdings in Lear were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Lear by 15.0% during the 4th quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after acquiring an additional 88 shares during the period. Waterfront Wealth Inc. increased its stake in Lear by 0.5% in the 1st quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company’s stock worth $2,107,000 after purchasing an additional 89 shares during the period. Inspire Advisors LLC increased its stake in Lear by 4.5% in the 4th quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock worth $246,000 after purchasing an additional 92 shares during the period. Pallas Capital Advisors LLC lifted its position in Lear by 4.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock valued at $274,000 after purchasing an additional 99 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Lear by 32.0% in the fourth quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock valued at $47,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Lear from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Citigroup upped their price target on shares of Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Morgan Stanley set a $130.00 price target on shares of Lear in a report on Monday, May 4th. Finally, Barclays boosted their price objective on shares of Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $144.62.

Lear Stock Performance

NYSE:LEA opened at $140.21 on Tuesday. The stock has a market cap of $7.02 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25. The firm’s fifty day simple moving average is $138.57 and its 200 day simple moving average is $129.74. Lear Corporation has a twelve month low of $91.67 and a twelve month high of $150.33. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA) last announced its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Lear Corporation will post 14.81 EPS for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio is presently 30.80%.

Insider Transactions at Lear

In other news, SVP Nicholas Jon Roelli sold 2,336 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the sale, the senior vice president owned 2,339 shares in the company, valued at approximately $330,687.82. The trade was a 49.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total transaction of $26,854.60. Following the completion of the sale, the director directly owned 1,683 shares in the company, valued at $237,875.22. This represents a 10.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,026 shares of company stock worth $8,498,248 in the last ninety days. 1.02% of the stock is owned by company insiders.

Lear Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.