Envestnet Asset Management Inc. Cuts Stock Holdings in Lear Co. (NYSE:LEA)

Envestnet Asset Management Inc. lowered its stake in Lear Co. (NYSE:LEA) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,089 shares of the auto parts company’s stock after selling 4,251 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Lear worth $10,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of Lear in the first quarter worth about $29,000. Riverview Trust Co bought a new position in shares of Lear during the 1st quarter valued at approximately $32,000. Central Pacific Bank Trust Division purchased a new position in shares of Lear in the first quarter valued at $62,000. Isthmus Partners LLC grew its holdings in shares of Lear by 2.1% in the second quarter. Isthmus Partners LLC now owns 64,398 shares of the auto parts company’s stock valued at $74,000 after purchasing an additional 1,336 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Lear in the fourth quarter worth $75,000. Institutional investors own 97.04% of the company’s stock.

Lear Stock Performance

Shares of Lear stock opened at $110.60 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $112.84 and its two-hundred day moving average is $123.14. Lear Co. has a 52 week low of $101.67 and a 52 week high of $147.11. The company has a market capitalization of $6.22 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 earnings per share. As a group, analysts expect that Lear Co. will post 12.66 earnings per share for the current year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were paid a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 annualized dividend and a yield of 2.78%. Lear’s dividend payout ratio (DPR) is currently 33.59%.

Analyst Ratings Changes

LEA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Bank of America reduced their price objective on Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Barclays cut their target price on Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Finally, Evercore ISI lowered their price target on Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.20.

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.