Lear Corporation $LEA Shares Sold by CX Institutional

CX Institutional trimmed its holdings in shares of Lear Corporation (NYSE:LEA) by 53.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 372 shares of the auto parts company’s stock after selling 431 shares during the period. CX Institutional’s holdings in Lear were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in Lear by 26.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,142 shares of the auto parts company’s stock worth $947,000 after purchasing an additional 1,893 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Lear in the 2nd quarter valued at approximately $213,000. Harbor Capital Advisors Inc. lifted its stake in shares of Lear by 25.1% in the second quarter. Harbor Capital Advisors Inc. now owns 49,567 shares of the auto parts company’s stock worth $4,708,000 after buying an additional 9,945 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Lear by 34.4% during the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after acquiring an additional 11,696 shares during the period. Finally, Inspire Investing LLC boosted its stake in Lear by 8.9% during the 1st quarter. Inspire Investing LLC now owns 4,634 shares of the auto parts company’s stock valued at $409,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Stock Down 1.4%

Lear stock opened at $100.24 on Friday. The company has a fifty day simple moving average of $103.82 and a 200 day simple moving average of $95.44. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $115.47. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The company has a market cap of $5.33 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34.

Lear (NYSE:LEA) last released its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 13.94% and a net margin of 2.05%.Lear’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. Research analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s payout ratio is 35.94%.

Analysts Set New Price Targets

LEA has been the topic of several research reports. Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. Barclays upped their target price on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their price target on Lear from $111.00 to $113.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup upped their target price on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Finally, UBS Group lowered their target price on shares of Lear from $116.00 to $109.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.90.

Insider Activity at Lear

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the transaction, the chief executive officer directly owned 38,729 shares of the company’s stock, valued at $3,747,805.33. This represents a 11.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the transaction, the chief financial officer owned 20,244 shares in the company, valued at approximately $1,993,426.68. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. 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.