American Century Companies Inc. Increases Holdings in Lear Corporation $LEA

Key Points

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American Century Companies Inc. lifted its position in Lear Corporation (NYSE:LEA - Free Report) by 105.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 710,962 shares of the auto parts company's stock after purchasing an additional 365,382 shares during the quarter. American Century Companies Inc. owned about 1.33% of Lear worth $62,721,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LEA. Putney Financial Group LLC purchased a new position in Lear during the fourth quarter valued at approximately $58,000. Fifth Third Bancorp raised its position in Lear by 131.8% during the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock valued at $67,000 after acquiring an additional 435 shares in the last quarter. CX Institutional purchased a new position in Lear during the first quarter valued at approximately $71,000. GAMMA Investing LLC raised its position in Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock valued at $83,000 after acquiring an additional 344 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Lear by 46.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 966 shares of the auto parts company's stock valued at $91,000 after acquiring an additional 307 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lear

In other news, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the sale, the chief executive officer directly owned 38,729 shares of the company's stock, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer directly owned 20,244 shares of the company's stock, valued at $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,187 shares of company stock worth $1,086,425 over the last quarter. 0.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LEA shares. The Goldman Sachs Group set a $88.00 price target on Lear and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their price target on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Barclays boosted their price objective on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Wall Street Zen cut Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Bank of America boosted their price objective on Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.00.

Lear Stock Performance

Shares of Lear stock opened at $102.48 on Tuesday. Lear Corporation has a one year low of $73.85 and a one year high of $119.10. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The business's 50 day moving average price is $98.95 and its 200 day moving average price is $93.19.

Lear (NYSE:LEA - Get Free Report) last posted its earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%. The company had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company's revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be given a $0.77 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. Lear's payout ratio is currently 35.94%.

Lear Company Profile

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.

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