Capital Management Corp VA Takes $2.30 Million Position in Lear Corporation $LEA

Capital Management Corp VA acquired a new stake in shares of Lear Corporation (NYSE:LEA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,814 shares of the auto parts company’s stock, valued at approximately $2,295,000.

Other large investors have also recently made changes to their positions in the company. AlphaQuest LLC increased its holdings in shares of Lear by 203.2% in the third quarter. AlphaQuest LLC now owns 9,865 shares of the auto parts company’s stock worth $993,000 after purchasing an additional 6,611 shares during the period. Arizona State Retirement System increased its position in shares of Lear by 1.2% in the third quarter. Arizona State Retirement System now owns 15,820 shares of the auto parts company’s stock worth $1,592,000 after purchasing an additional 195 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Lear by 13.5% in the third quarter. SummerHaven Investment Management LLC now owns 7,900 shares of the auto parts company’s stock worth $795,000 after purchasing an additional 939 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Lear in the third quarter valued at approximately $692,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Lear by 124.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,741 shares of the auto parts company’s stock worth $5,507,000 after buying an additional 30,369 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Stock Down 2.9%

Shares of Lear stock opened at $117.07 on Friday. The stock has a market capitalization of $6.07 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $127.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35. The company has a 50-day simple moving average of $116.31 and a two-hundred day simple moving average of $107.97.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a return on equity of 13.44% and a net margin of 1.92%.The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period last year, the company earned $2.89 EPS. Lear’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, December 10th. Lear’s dividend payout ratio is presently 37.65%.

Analysts Set New Price Targets

LEA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Barclays raised their target price on Lear from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a research report on Thursday, January 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 target price on shares of Lear in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. raised their price target on Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $126.20.

Insider Activity

In other news, CFO Jason M. Cardew sold 5,000 shares of the company’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 completion of the transaction, the chief financial officer owned 15,244 shares of the company’s stock, valued at $1,801,383.48. This represents a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by company insiders.

Lear Company 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.