Edmp Inc. Invests $323,000 in Lear Corporation (NYSE:LEA)

Edmp Inc. bought a new position in shares of Lear Corporation (NYSE:LEA) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,660 shares of the auto parts company’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Lear by 5.9% during the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company’s stock worth $873,000 after acquiring an additional 515 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Lear during the fourth quarter worth about $3,871,000. Dimensional Fund Advisors LP increased its position in shares of 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Lear by 17.1% during the fourth quarter. Bank of New York Mellon Corp now owns 676,977 shares of the auto parts company’s stock worth $64,110,000 after purchasing an additional 99,072 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Lear by 82.3% during the fourth quarter. Sei Investments Co. now owns 45,927 shares of the auto parts company’s stock worth $4,349,000 after purchasing an additional 20,733 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Stock Up 1.5%

LEA opened at $92.42 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.51 and a beta of 1.29. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $126.85. The company’s 50-day moving average price is $88.96 and its two-hundred day moving average price is $91.70.

Lear (NYSE:LEA) last posted its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.48. Lear had a net margin of 2.09% and a return on equity of 14.53%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the firm posted $3.18 earnings per share. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, June 5th. Lear’s dividend payout ratio (DPR) is currently 36.11%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cowen cut shares of Lear from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company boosted their price target on shares of Lear from $89.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Bank of America boosted their price target on shares of Lear from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, June 16th. UBS Group boosted their price target on shares of Lear from $83.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, Barclays cut shares of Lear from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Lear has an average rating of “Hold” and an average target price of $107.09.

Insider Activity

In related news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company’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 now owns 84 shares of the company’s stock, valued at approximately $7,800.24. This represents a 93.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.

Lear Company 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.