VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.03 Million Investment in Lear Corporation $LEA

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Lear Corporation (NYSE:LEA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 30,050 shares of the auto parts company’s stock, valued at approximately $4,029,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in Lear by 12,951.3% in the second quarter. California State Teachers Retirement System now owns 7,843,046 shares of the auto parts company’s stock worth $1,051,439,000 after buying an additional 7,782,952 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Lear by 47.1% in the second quarter. HB Wealth Management LLC now owns 2,560 shares of the auto parts company’s stock valued at $343,000 after acquiring an additional 820 shares during the period. Syon Capital LLC raised its stake in shares of Lear by 13.0% in the second quarter. Syon Capital LLC now owns 2,467 shares of the auto parts company’s stock valued at $331,000 after acquiring an additional 284 shares during the period. Nykredit A S bought a new stake in shares of Lear in the 2nd quarter worth about $208,000. Finally, F&V Capital Management LLC boosted its stake in shares of Lear by 1.6% during the 2nd quarter. F&V Capital Management LLC now owns 87,170 shares of the auto parts company’s stock worth $11,686,000 after purchasing an additional 1,390 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LEA. JPMorgan Chase & Co. upped their price target on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday, July 10th. BNP Paribas Exane cut Lear from an “outperform” rating to a “neutral” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft set a $131.00 price target on Lear in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. Finally, TD Cowen upgraded Lear from a “hold” rating to a “buy” rating and increased their target price for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and a consensus price target of $147.08.

Insider Buying and Selling at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,646 shares of Lear 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 directly owned 37 shares in the company, valued at $4,489.95. The trade was a 97.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Raymond Scott sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the completion of the sale, the chief executive officer directly owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. This trade represents a 50.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.02% of the company’s stock.

Lear Stock Performance

Lear stock opened at $126.92 on Thursday. The company has a 50 day moving average price of $131.31 and a 200-day moving average price of $130.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31. Lear Corporation has a fifty-two week low of $96.04 and a fifty-two week high of $150.33. The company has a market capitalization of $6.26 billion, a PE ratio of 11.83, a P/E/G ratio of 0.79 and a beta of 1.26.

Lear (NYSE:LEA) last announced its quarterly earnings data 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. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Lear had a return on equity of 14.18% and a net margin of 2.35%.Lear’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 earnings per share. As a group, equities analysts forecast that Lear Corporation will post 14.86 earnings per share for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. Lear’s dividend payout ratio is presently 28.70%.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks identifies Lear as a highly ranked growth stock. The article highlights Zacks’ Style Scores as a screening tool and presents Lear as an attractive candidate for growth-oriented investors. This could support sentiment, although the report does not introduce new financial results or raise the company’s guidance. Lear is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Lear has recently reported stronger-than-expected operating results. The company’s latest quarterly report showed earnings of $4.28 per share versus a $3.98 consensus estimate, revenue of $6.21 billion, and 3% year-over-year revenue growth. Those results provide a fundamental cushion, but they were reported previously and are unlikely to explain the latest trading activity.
• Negative Sentiment: Potentially higher interest rates could pressure auto suppliers. Commentary warning that the Federal Reserve could raise rates amid an energy shock raises broader risks for economically sensitive industries. Higher borrowing costs and weaker vehicle demand could affect automakers and suppliers such as Lear, though the article does not discuss Lear specifically. Fed rate and oil shock analysis

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.