Foster & Motley Inc. Buys Shares of 7,919 Lear Corporation $LEA

Foster & Motley Inc. purchased a new position in Lear Corporation (NYSE:LEA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,919 shares of the auto parts company’s stock, valued at approximately $1,062,000.

A number of other hedge funds have also recently modified their holdings of LEA. Jones Financial Companies Lllp raised its holdings in Lear by 5,205.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after purchasing an additional 7,131 shares during the period. United Services Automobile Association bought a new stake in Lear during the first quarter valued at about $267,000. Empowered Funds LLC purchased a new stake in Lear in the first quarter worth about $256,000. EverSource Wealth Advisors LLC increased its position in Lear by 37.1% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock worth $92,000 after buying an additional 262 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Lear by 9.5% in the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock worth $408,000 after buying an additional 372 shares during the period. Institutional investors own 97.04% of the company’s stock.

Lear Trading Down 0.1%

Shares of LEA opened at $123.79 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.04. Lear Corporation has a 1 year low of $96.04 and a 1 year high of $150.33. The company has a 50 day simple moving average of $134.75 and a two-hundred day simple moving average of $131.32. The firm has a market cap of $6.11 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.25.

Lear (NYSE:LEA) last released its earnings results on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, topping the consensus estimate of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the firm earned $3.06 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Lear Corporation will post 14.87 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd will be paid a $0.77 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $3.08 annualized dividend and a yield of 2.5%. Lear’s payout ratio is presently 28.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LEA shares. Royal Bank Of Canada boosted their price objective on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. Morgan Stanley set a $130.00 target price on shares of Lear in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $131.00 price target on shares of Lear in a report on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $140.00 price objective on shares of Lear in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $145.23.

Insider Activity at Lear

In other news, SVP Nicholas Jon Roelli sold 2,336 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $141.38, for a total transaction of $330,263.68. Following the completion of the transaction, the senior vice president owned 2,339 shares in the company, valued at $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Raymond E. Scott sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total value of $6,768,500.00. Following the transaction, the chief executive officer owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 63,672 shares of company stock worth $8,697,990 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s investment case is supported by its recent earnings momentum: the company exceeded quarterly EPS expectations, reported revenue above consensus, and increased revenue year over year. Its projected full-year EPS and relatively low valuation metrics may also appeal to growth and value investors. Here’s Why Lear is a Strong Growth Stock
• Neutral Sentiment: No other supplied article contains material news about Lear Corporation. The remaining items concern unrelated companies, educational or personal-finance content, legislation, crypto markets, and industry topics, so they are unlikely to affect LEA directly.

About Lear

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.