Globeflex Capital L P Makes New $1.05 Million Investment in Lear Corporation $LEA

Globeflex Capital L P acquired a new position in shares of Lear Corporation (NYSE:LEA) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,872 shares of the auto parts company’s stock, valued at approximately $1,055,000.

Several other hedge funds also recently added to or reduced their stakes in LEA. Altshuler Shaham Ltd purchased a new position in shares of Lear in the 4th quarter valued at $25,000. WealthCollab LLC purchased a new stake in Lear in the second quarter valued at $28,000. Los Angeles Capital Management LLC acquired a new position in Lear in the fourth quarter valued at $30,000. Allworth Financial LP grew its holdings in shares of 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 purchasing an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 245 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LEA shares. JPMorgan Chase & Co. boosted 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. Citigroup lifted their price target on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their price objective on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. BNP Paribas Exane downgraded Lear from an “outperform” rating to a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Lear from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $145.23.

Insider Buying and Selling at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 37 shares in the company, valued at approximately $4,489.95. The trade was a 97.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,336 shares of company stock valued at $8,367,727. 1.02% of the stock is owned by corporate insiders.

More Lear News

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: No relevant Lear-specific announcements or analyst actions were included in the latest news feed, so the stock’s decrease appears unrelated to the supplied articles.
• Neutral Sentiment: The most recent reported fundamentals remain supportive: Lear previously beat quarterly EPS and revenue estimates, with revenue up 3% year over year. However, those results are not new information in this news set.

Lear Price Performance

Shares of NYSE LEA opened at $122.94 on Tuesday. The stock has a fifty day moving average price of $133.58 and a 200 day moving average price of $131.47. Lear Corporation has a 1-year low of $96.04 and a 1-year high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.04. The company has a market cap of $6.06 billion, a PE ratio of 11.46, a P/E/G ratio of 0.62 and a beta of 1.25.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.30. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.15 billion. Lear had a net margin of 2.35% and a return on equity of 14.18%. Lear’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.06 EPS. Sell-side analysts forecast that Lear Corporation will post 14.86 EPS for the current year.

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 given a $0.77 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $3.08 dividend on an annualized basis and a yield of 2.5%. 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.