Meeder Asset Management Inc. Increases Holdings in Lear Corporation $LEA

Meeder Asset Management Inc. lifted its holdings in shares of Lear Corporation (NYSE:LEA) by 5,772.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,376 shares of the auto parts company’s stock after purchasing an additional 20,029 shares during the period. Meeder Asset Management Inc.’s holdings in Lear were worth $2,050,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hunter Perkins Capital Management LLC boosted its stake in Lear by 0.8% in the second quarter. Hunter Perkins Capital Management LLC now owns 13,846 shares of the auto parts company’s stock valued at $1,315,000 after acquiring an additional 107 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Lear by 34.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 107 shares during the period. Janney Montgomery Scott LLC lifted its stake in Lear by 2.0% in the second quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company’s stock valued at $585,000 after purchasing an additional 121 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in Lear by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company’s stock valued at $661,000 after purchasing an additional 176 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Lear by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 24,918 shares of the auto parts company’s stock worth $2,367,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Price Performance

Shares of NYSE:LEA opened at $124.43 on Monday. The company has a 50 day moving average of $111.75 and a 200 day moving average of $106.03. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $6.45 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.15 and a beta of 1.30. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $127.36.

Lear (NYSE:LEA) last posted its earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 1.92% and a return on equity of 13.44%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.89 EPS. As a group, sell-side analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, December 10th. Lear’s payout ratio is presently 37.65%.

Wall Street Analyst Weigh In

LEA has been the topic of several research reports. Evercore ISI boosted their target price on Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. The Goldman Sachs Group set a $104.00 price objective on Lear in a research note on Monday, September 29th. Wells Fargo & Company cut their target price on shares of Lear from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Wall Street Zen cut shares of Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, UBS Group reduced their price objective on shares of Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $119.80.

Insiders Place Their Bets

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $118.17, for a total value of $590,850.00. Following the sale, the chief financial officer owned 15,244 shares of the company’s stock, valued at $1,801,383.48. This trade represents a 24.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.91% of the stock is owned by corporate 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.