Y Intercept Hong Kong Ltd Buys Shares of 20,233 Lear Corporation $LEA

Y Intercept Hong Kong Ltd purchased a new stake in Lear Corporation (NYSE:LEA) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 20,233 shares of the auto parts company’s stock, valued at approximately $2,450,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&T Bank Corp lifted its holdings in Lear by 46,707.8% in the fourth quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock valued at $109,054,000 after acquiring an additional 949,569 shares during the last quarter. Norges Bank acquired a new position in shares of Lear in the 4th quarter valued at $82,016,000. Balyasny Asset Management L.P. acquired a new position in shares of Lear in the 2nd quarter valued at $39,656,000. Caisse de depot et placement du Quebec purchased a new position in shares of Lear during the 3rd quarter worth $40,984,000. Finally, AQR Capital Management LLC increased its position in shares of Lear by 34.1% during the 4th quarter. AQR Capital Management LLC now owns 789,745 shares of the auto parts company’s stock worth $90,505,000 after purchasing an additional 200,617 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Down 1.7%

LEA stock opened at $131.41 on Wednesday. The company’s 50 day moving average price is $137.45 and its 200 day moving average price is $128.43. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.68 and a beta of 1.25. Lear Corporation has a fifty-two week low of $91.67 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm earned $3.12 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Lear Corporation will post 14.64 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio is 30.80%.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 190 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the sale, the director directly owned 1,683 shares in the company, valued at $237,875.22. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the sale, the senior vice president directly owned 2,339 shares of the company’s stock, valued at $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is owned by corporate insiders.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks says Lear is a top-ranked value stock and discusses whether it could be a buy, reinforcing the company’s appeal to value investors.
• Positive Sentiment: Another Zacks piece compares Lear with Ferrari on valuation, which keeps attention on LEA as a relatively attractive automotive stock.
• Positive Sentiment: Zacks also notes that Lear has lagged broader auto-tires-trucks peers this year, which can sometimes draw contrarian interest if investors expect a rebound. Article Title
• Neutral Sentiment: Other linked stories in the feed focus on unrelated education, tax, crypto, and marketing topics and are unlikely to materially affect Lear’s stock.
• Negative Sentiment: The recent comparison article suggests Lear has trailed its sector year to date, which may reflect lingering investor caution around the stock.

Analyst Ratings Changes

Several analysts recently issued reports on LEA shares. Royal Bank Of Canada boosted their price objective on shares of Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Barclays lifted their price target on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and boosted their price target for the company from $138.00 to $165.00 in a research note on Tuesday, May 26th. UBS Group decreased their price objective on shares of Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Lear from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $143.38.

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.