LSV Asset Management Grows Stake in Lear Corporation $LEA

LSV Asset Management raised its stake in Lear Corporation (NYSE:LEA) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 713,741 shares of the auto parts company’s stock after acquiring an additional 32,810 shares during the period. LSV Asset Management’s holdings in Lear were worth $81,795,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LEA. Jones Financial Companies Lllp lifted its holdings in shares of Lear by 5,205.1% during the first quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock valued at $604,000 after purchasing an additional 7,131 shares in the last quarter. United Services Automobile Association bought a new position in shares of Lear during the first quarter valued at $267,000. Empowered Funds LLC bought a new position in shares of Lear during the first quarter valued at $256,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 262 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of 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 purchasing an additional 372 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Stock Up 0.9%

LEA stock opened at $139.73 on Friday. Lear Corporation has a fifty-two week low of $86.14 and a fifty-two week high of $142.84. The business’s 50-day moving average is $125.37 and its two-hundred day moving average is $121.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.71 and a beta of 1.21.

Lear (NYSE:LEA) last posted its earnings results 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. Lear had a return on equity of 13.69% and a net margin of 2.25%.The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. Lear’s revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Lear Corporation will post 14.61 earnings per share for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. Lear’s dividend payout ratio is currently 30.80%.

Key Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlighted Lear (LEA) as a top-ranked growth stock, which may draw in growth-oriented investors and support the shares. Lear (LEA) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Recent articles about saunas, red light therapy, crypto regulation, and other unrelated topics do not appear to affect Lear’s shares. The health benefits of saunas: backed by research and experts
• Neutral Sentiment: Lear’s latest reported results showed EPS ahead of expectations and revenue growth, helping reinforce the stock’s positive momentum, though this was from an earlier earnings release rather than a new catalyst today.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LEA shares. TD Cowen reaffirmed a “hold” rating on shares of Lear in a report on Monday, May 4th. The Goldman Sachs Group upped their price target on Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Citigroup upped their price target on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price target on Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Lear has a consensus rating of “Hold” and a consensus price target of $140.54.

Insiders Place Their Bets

In other Lear news, VP Marianne Vidershain sold 1,590 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total value of $214,650.00. Following the transaction, the vice president owned 1,862 shares of the company’s stock, valued at approximately $251,370. This represents a 46.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

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.