23,500 Shares in Lear Corporation $LEA Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Lear Corporation (NYSE:LEA) during the 2nd quarter, Holdings Channel.com reports. The firm bought 23,500 shares of the auto parts company’s stock, valued at approximately $2,232,000.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Lear by 1,384.2% in the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 263 shares during the period. WPG Advisers LLC acquired a new stake in Lear during the 1st quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Lear by 57.9% during the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock valued at $83,000 after purchasing an additional 344 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in Lear by 2,682.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after purchasing an additional 939 shares in the last quarter. Finally, Bayforest Capital Ltd grew its position in shares of Lear by 955.2% in the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,003 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lear

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the sale, the chief executive officer owned 38,729 shares of the company’s stock, valued at $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer directly owned 20,244 shares of the company’s stock, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

Lear Stock Performance

Shares of LEA stock opened at $100.93 on Wednesday. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $113.10. 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 capitalization of $5.37 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.78 and a beta of 1.32. The stock’s fifty day simple moving average is $104.38 and its 200-day simple moving average is $96.48.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%.The firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Lear from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen raised Lear from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. UBS Group cut their target price on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Barclays boosted their price objective on Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Citigroup reissued a “neutral” rating on shares of Lear in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $115.00.

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.