Wealth Enhancement Advisory Services LLC Buys 3,409 Shares of Lear Corporation (NYSE:LEA)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 88.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,249 shares of the auto parts company's stock after purchasing an additional 3,409 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Lear were worth $640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Lear by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock worth $614,782,000 after buying an additional 447,835 shares during the period. Dimensional Fund Advisors LP increased its position in Lear by 12.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock worth $247,566,000 after acquiring an additional 283,838 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Lear by 29.1% in 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 boosted its holdings in Lear by 45.9% in the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock valued at $107,313,000 after purchasing an additional 356,760 shares during the period. Finally, Lyrical Asset Management LP grew its position 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. Institutional investors own 97.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LEA shares. The Goldman Sachs Group set a $88.00 price target on Lear and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. UBS Group increased their target price on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday. Citigroup upped their price objective on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $108.55.

Lear Price Performance

Lear stock traded up $0.38 during mid-day trading on Friday, reaching $103.58. The company had a trading volume of 329,021 shares, compared to its average volume of 713,611. The business has a fifty day simple moving average of $91.36 and a 200 day simple moving average of $91.64. The company has a market cap of $5.54 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.58 and a beta of 1.29. Lear Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $126.85. 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 (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.48. The company had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. Lear's revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.18 EPS. On average, equities research analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's dividend payout ratio is currently 36.11%.

Insider Transactions at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 84 shares of the company's stock, valued at $7,800.24. The trade was a 93.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.91% of the stock is currently owned by company insiders.

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.