Foster & Motley Inc. acquired a new position in Lear Corporation (NYSE:LEA – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 7,919 shares of the auto parts company’s stock, valued at approximately $1,062,000.
Several other hedge funds have also recently made changes to their positions in LEA. Altshuler Shaham Ltd increased its stake in Lear by 36.5% during the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 81 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Lear by 3.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,260 shares of the auto parts company’s stock valued at $303,000 after purchasing an additional 82 shares during the last quarter. UMB Bank n.a. increased its position in shares of Lear by 15.0% during the 4th quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 88 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in Lear by 0.5% during the 1st quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company’s stock valued at $2,107,000 after buying an additional 89 shares during the period. Finally, Inspire Advisors LLC lifted its position in Lear by 4.5% in the fourth quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock worth $246,000 after buying an additional 92 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.
Lear Price Performance
Lear stock opened at $123.79 on Thursday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.25. 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 firm has a 50-day moving average of $134.75 and a two-hundred day moving average of $131.32.
Lear Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd will be paid a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $3.08 annualized dividend and a yield of 2.5%. Lear’s dividend payout ratio is 28.70%.
Insider Transactions at Lear
In other Lear news, Director Conrad L. Mallett, Jr. sold 1,646 shares of Lear stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the sale, the director directly owned 37 shares of the company’s stock, valued at $4,489.95. The trade was a 97.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nicholas Jon Roelli sold 2,336 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the sale, the senior vice president owned 2,339 shares of the company’s stock, valued at $330,687.82. This represents a 49.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 63,672 shares of company stock valued at $8,697,990. 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.
Analyst Ratings Changes
Several research firms have commented on LEA. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Lear in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft set a $131.00 target price on shares of Lear in a report on Monday, August 3rd. BNP Paribas Exane cut Lear from an “outperform” rating to a “neutral” rating in a research note on Monday, August 3rd. Wall Street Zen cut Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company upped their price objective on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $145.23.
View Our Latest Analysis on Lear
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.
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