Diamond Hill Capital Management LLC Investment Advisor Acquires New Stake in Lear Corporation $LEA

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Lear Corporation (NYSE:LEA) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 129,967 shares of the auto parts company’s stock, valued at approximately $17,423,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in shares of Lear by 5,205.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after purchasing an additional 7,131 shares during the period. United Services Automobile Association bought a new stake in Lear during the first quarter valued at approximately $267,000. Empowered Funds LLC bought a new stake in Lear during the first quarter valued at approximately $256,000. EverSource Wealth Advisors LLC increased its holdings in Lear by 37.1% during the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock valued at $92,000 after buying an additional 262 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Lear by 9.5% during the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock valued at $408,000 after buying an additional 372 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 shares were sold at an average price of $121.35, for a total value of $199,742.10. Following the sale, the director directly owned 37 shares in the company, valued at approximately $4,489.95. The trade was a 97.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the sale, the chief financial officer owned 13,241 shares in the company, valued at approximately $1,953,047.50. The trade was a 27.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,672 shares of company stock worth $8,697,990 in the last three months. Insiders own 1.02% of the company’s stock.

Lear Stock Down 0.1%

Shares of LEA opened at $124.86 on Monday. The business’s 50 day moving average is $135.84 and its 200 day moving average is $131.23. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.51. Lear Corporation has a 12-month low of $96.04 and a 12-month high of $150.33. The company has a market capitalization of $6.16 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.60 and a beta of 1.25.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share 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 period in the prior year, the company posted $3.06 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts expect that Lear Corporation will post 14.87 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Lear’s payout ratio is 28.70%.

Key Stories Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear declared a quarterly dividend of $0.77 per share. The dividend is payable September 22 to shareholders of record September 2, implying an annualized payout of $3.08 and a yield of approximately 2.5%. The announcement reinforces Lear’s shareholder-return profile and may provide modest support for the stock. Lear Declares Quarterly Cash Dividend
• Positive Sentiment: Zacks highlighted LEA as a strong value stock. The designation may attract value-oriented investors, particularly given Lear’s relatively low valuation and recent earnings outperformance. However, the article appears to be a style-based assessment rather than a new earnings or guidance catalyst. Here’s Why Lear Is a Strong Value Stock
• Neutral Sentiment: The other reported items—including a federal summer-reading bill, unrelated education and cryptocurrency stories, and general trading commentary—do not identify a direct financial, operational, or regulatory impact on Lear Corporation.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Lear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on Lear from $153.00 to $159.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Weiss Ratings cut Lear from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $131.00 price target on Lear in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $145.23.

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.