Pacer Advisors Inc. Sells 252,193 Shares of Lear Corporation $LEA

Pacer Advisors Inc. trimmed its stake in Lear Corporation (NYSE:LEA) by 97.7% in the 1st quarter, HoldingsChannel reports. The fund owned 5,870 shares of the auto parts company’s stock after selling 252,193 shares during the quarter. Pacer Advisors Inc.’s holdings in Lear were worth $711,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Lear during the 4th quarter valued at about $25,000. WealthCollab LLC acquired a new position in shares of Lear in the 2nd quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new stake in Lear in the 4th quarter worth approximately $30,000. Allworth Financial LP grew 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 valued at $31,000 after buying an additional 119 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of 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 purchasing an additional 245 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Analyst Ratings Changes

LEA has been the subject of a number of research analyst reports. Morgan Stanley set a $130.00 price objective on shares of Lear in a research report on Monday, May 4th. JPMorgan Chase & Co. upped their target price on Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their price target on shares of Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Barclays increased their target price on shares of Lear from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, UBS Group dropped their price objective on Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $145.23.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $121.35, for a total value of $199,742.10. Following the completion of the sale, the director owned 37 shares in the company, valued at approximately $4,489.95. This trade represents a 97.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond E. Scott sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the transaction, the chief executive officer directly owned 49,789 shares in the company, valued at $6,739,936.93. This trade represents a 50.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 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.

Lear Stock Performance

NYSE LEA opened at $120.78 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $137.59 and its two-hundred day moving average is $131.19. Lear Corporation has a 12-month low of $95.35 and a 12-month high of $150.33. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.59 and a beta of 1.25.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.30. Lear had a return on equity of 14.18% and a net margin of 2.35%.The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $3.06 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Research analysts expect that Lear Corporation will post 14.84 EPS for the current year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors 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 dividend on an annualized basis and a yield of 2.6%. Lear’s dividend payout ratio (DPR) is presently 28.70%.

Lear 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.