Neo Ivy Capital Management Sells 38,758 Shares of Lear Corporation (NYSE:LEA)

Neo Ivy Capital Management trimmed its position in Lear Corporation (NYSE:LEA) by 98.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 770 shares of the auto parts company’s stock after selling 38,758 shares during the quarter. Neo Ivy Capital Management’s holdings in Lear were worth $68,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Lear by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company’s stock worth $614,782,000 after acquiring an additional 447,835 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company’s stock worth $247,566,000 after purchasing an additional 283,838 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Lear by 6.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company’s stock worth $208,052,000 after purchasing an additional 145,751 shares during the period. First Trust Advisors LP increased its holdings in shares of Lear by 45.9% during the fourth quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company’s stock worth $107,313,000 after purchasing an additional 356,760 shares during the period. Finally, Lyrical Asset Management LP raised its position in shares of Lear by 2.9% in the fourth quarter. Lyrical Asset Management LP now owns 1,056,694 shares of the auto parts company’s stock valued at $100,069,000 after buying an additional 29,370 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

LEA has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wall Street Zen upgraded Lear from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Barclays upped their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. 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. Finally, Wells Fargo & Company boosted their target price on shares of Lear from $100.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.64.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of Lear stock in a transaction 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 transaction, the director owned 84 shares in the company, valued at approximately $7,800.24. The trade was a 93.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.

Lear Stock Performance

NYSE LEA opened at $99.37 on Friday. The firm’s fifty day moving average price is $96.63 and its two-hundred day moving average price is $92.90. The stock has a market cap of $5.31 billion, a PE ratio of 11.60, a PEG ratio of 0.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32. Lear Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $125.09.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.24. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. Lear’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. On average, equities analysts expect 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 Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, June 5th. Lear’s payout ratio is 36.11%.

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.