Envestnet Asset Management Inc. Has $5.13 Million Stake in Lear Corporation (NYSE:LEA)

Envestnet Asset Management Inc. lifted its holdings in shares of Lear Corporation (NYSE:LEA - Free Report) by 23.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,165 shares of the auto parts company's stock after buying an additional 10,969 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Lear worth $5,131,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Lear by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock valued at $614,782,000 after buying an additional 447,835 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lear by 12.2% during 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 increased its stake in shares of 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 purchasing an additional 498,918 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Lear by 45.9% during the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock worth $107,313,000 after purchasing an additional 356,760 shares in the last quarter. Finally, Lyrical Asset Management LP increased its stake in shares of Lear by 2.9% during the 4th quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company's stock worth $100,069,000 after purchasing an additional 29,370 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Lear Stock Performance

NYSE:LEA traded down $0.51 during midday trading on Monday, reaching $98.88. The stock had a trading volume of 1,082,989 shares, compared to its average volume of 691,629. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $125.09. The firm's fifty day simple moving average is $96.72 and its 200-day simple moving average is $92.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07. The stock has a market capitalization of $5.29 billion, a P/E ratio of 11.54, a PEG ratio of 0.52 and a beta of 1.29.

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

Lear Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Thursday, June 5th. Lear's dividend payout ratio (DPR) is currently 35.94%.

Wall Street Analysts Forecast Growth

LEA has been the subject of a number of recent research reports. Barclays raised their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Lear from a "hold" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. raised their price objective on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group lowered their target price on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Morgan Stanley lowered their target price on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $113.00.

Lear 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.