Globeflex Capital L P bought a new stake in Lear Corporation (NYSE:LEA – Free Report) during the first quarter, Holdings Channel reports. The institutional investor bought 8,023 shares of the auto parts company’s stock, valued at approximately $971,000.
Other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Lear during the 4th quarter valued at $25,000. WealthCollab LLC purchased a new stake in shares of Lear in the second quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new position in shares of Lear during the fourth quarter valued at about $30,000. Allworth Financial LP boosted its holdings in Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Lear by 942.3% in the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.
Trending Headlines about Lear
Here are the key news stories impacting Lear this week:
- Positive Sentiment: Recent commentary from Zacks says Lear looks like a strong long-term value stock, pointing to favorable valuation and style-score factors. Why Lear (LEA) is a Top Value Stock for the Long-Term
- Positive Sentiment: Another Zacks piece asks whether Lear is undervalued right now, reinforcing the idea that the stock may still have upside if the market re-rates its earnings and cash flow outlook. Is Lear (LEA) Stock Undervalued Right Now?
- Positive Sentiment: Zacks also compared Lear with Modine and framed LEA as a competitive value option in the automotive supplier group, which can attract value-focused investors. LEA or MOD: Which Is the Better Value Stock Right Now?
- Positive Sentiment: One article noted Lear has a strong earnings surprise record and could beat estimates again in its next report, which would be a catalyst for the stock. Will Lear (LEA) Beat Estimates Again in Its Next Earnings Report?
Insider Transactions at Lear
Lear Stock Up 0.7%
Lear stock opened at $143.82 on Thursday. The firm has a 50 day moving average price of $138.82 and a 200-day moving average price of $130.14. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. Lear Corporation has a twelve month low of $91.67 and a twelve month high of $150.33. The company has a market capitalization of $7.21 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.69 and a beta of 1.25.
Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 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 for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. Lear’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Lear Corporation will post 14.81 EPS for the current year.
Lear Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were paid a $0.77 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.1%. Lear’s payout ratio is presently 30.80%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on LEA shares. Citigroup boosted their target price on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Weiss Ratings upgraded Lear from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on Lear from $153.00 to $159.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research note on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research report on Monday, July 13th. 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, Lear currently has an average rating of “Hold” and an average price target of $144.62.
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.
Further Reading
- Five stocks we like better than Lear
- Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
- Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
- Moog Is More Than a Missile Maker, and Wall Street Is Noticing
- A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corporation (NYSE:LEA – Free Report).
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.
