Entropy Technologies LP Makes New Investment in Lear Corporation $LEA

Entropy Technologies LP bought a new stake in Lear Corporation (NYSE:LEA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,992 shares of the auto parts company’s stock, valued at approximately $483,000.

A number of other hedge funds have also made changes to their positions in LEA. Altshuler Shaham Ltd acquired a new position in shares of Lear during the 4th quarter worth $25,000. Los Angeles Capital Management LLC acquired a new stake in Lear in the 4th quarter valued at about $30,000. Global Retirement Partners LLC grew its stake in Lear by 942.3% in the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 245 shares during the last quarter. WealthCollab LLC purchased a new position in Lear during the 2nd quarter valued at about $28,000. Finally, Allworth Financial LP raised its position 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 acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nicholas Jon Roelli sold 2,336 shares of Lear 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. The trade was a 49.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond E. Scott sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 49,789 shares of the company’s stock, valued at $6,739,936.93. The trade was a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is owned by company insiders.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analyst coverage identifies Lear as a vehicle-technology beneficiary. Zacks included Lear among three automotive-equipment stocks positioned to benefit from advanced seating systems, smart mirrors, lidar and other mobility technologies. The article supports the long-term growth case for Lear’s seating and electrical systems businesses. 3 Automotive Equipment Stocks to Buy as Vehicle Tech Evolves
• Neutral Sentiment: Recent earnings were mixed but solid. Lear reported quarterly earnings of $3.87 per share, exceeding the $3.51 consensus estimate, while revenue of $5.82 billion was slightly below expectations of $5.84 billion. Revenue still increased 4.7% year over year, and analysts expect approximately $14.81 in full-year EPS.
• Negative Sentiment: No new company-specific catalyst appears in the supplied headlines. Most of the recent articles concern unrelated companies, financial stocks or general investment topics. With Lear trading near its 12-month high, the lack of a fresh earnings, guidance or contract announcement may be contributing to profit-taking or cautious trading despite the favorable industry outlook.

Lear Price Performance

Lear stock opened at $147.51 on Thursday. Lear Corporation has a 12-month low of $91.67 and a 12-month high of $150.33. The stock has a market capitalization of $7.39 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.72 and a beta of 1.25. The firm’s 50-day moving average is $140.10 and its two-hundred day moving average is $130.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.12 earnings per share. Equities analysts predict that Lear Corporation will post 14.81 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were issued a $0.77 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $3.08 annualized dividend and a yield of 2.1%. Lear’s payout ratio is 30.80%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LEA shares. UBS Group reduced their price target 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. Morgan Stanley set a $130.00 price objective on Lear in a research report on Monday, May 4th. TD Cowen raised Lear from a “hold” rating to a “buy” rating and upped their target price for the company from $138.00 to $165.00 in a research note on Tuesday, May 26th. Citigroup increased their target price on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group raised their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, 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.