Lakewood Asset Management LLC Sells 519 Shares of Lear Corporation $LEA

Lakewood Asset Management LLC lessened its holdings in shares of Lear Corporation (NYSE:LEA) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,140 shares of the auto parts company’s stock after selling 519 shares during the quarter. Lakewood Asset Management LLC’s holdings in Lear were worth $1,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in shares of Lear by 11.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,622 shares of the auto parts company’s stock worth $2,616,000 after acquiring an additional 2,874 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Lear in the fourth quarter worth $2,329,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Lear by 29.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,840 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 876 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Lear by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company’s stock worth $351,000 after acquiring an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Lear by 13,831.0% in the first quarter. GAMMA Investing LLC now owns 82,750 shares of the auto parts company’s stock worth $7,300,000 after acquiring an additional 82,156 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LEA. Wall Street Zen downgraded shares of Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Barclays lifted their price target on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of Lear from $111.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup lifted their price target on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.90.

Insider Transactions at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of Lear 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 transaction, the chief financial officer directly owned 20,244 shares of the company’s stock, valued at $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Lear Stock Up 1.3%

Shares of NYSE LEA opened at $101.53 on Friday. The stock has a market cap of $5.40 billion, a PE ratio of 11.85, a PEG ratio of 0.79 and a beta of 1.34. The business has a fifty day moving average of $103.77 and a two-hundred day moving average of $95.48. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $115.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (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 business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts expect 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. Investors of record on Wednesday, September 3rd were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s payout ratio is currently 35.94%.

About Lear

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.