Alyeska Investment Group L.P. Acquires Shares of 105,319 Lear Corporation $LEA

Key Points

• Alyeska Investment Group L.P. acquired a new position in Lear Corporation valued at approximately $9.29 million, investing in 105,319 shares during the first quarter.
• Lear Corporation reported a quarterly earnings per share (EPS) of $3.47, exceeding analysts' estimates of $3.23, with a revenue of $6.03 billion for the quarter.
• The company declared a quarterly dividend of $0.77, translating to an annual yield of 2.8%, with the payment set for September 23rd.

Alyeska Investment Group L.P. bought a new stake in Lear Corporation (NYSE:LEA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 105,319 shares of the auto parts company's stock, valued at approximately $9,291,000. Alyeska Investment Group L.P. owned about 0.20% of Lear as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Lear during the 1st quarter valued at approximately $39,000. Putney Financial Group LLC acquired a new stake in shares of Lear in the fourth quarter worth $58,000. Fifth Third Bancorp raised its holdings in shares of Lear by 131.8% during the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock worth $67,000 after purchasing an additional 435 shares during the last quarter. CX Institutional acquired a new position in Lear during the first quarter valued at $71,000. Finally, GAMMA Investing LLC lifted its position in Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock valued at $83,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

Insiders Place Their Bets

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the transaction, the chief executive officer owned 38,729 shares of the company's stock, valued at $3,747,805.33. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the completion of the transaction, the director owned 84 shares in the company, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,187 shares of company stock worth $1,086,425. Corporate insiders own 0.91% of the company's stock.

Lear Price Performance

Lear stock traded up $0.66 during trading on Friday, reaching $111.03. The company had a trading volume of 388,099 shares, compared to its average volume of 480,641. The firm has a market capitalization of $5.91 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.67 and a beta of 1.33. The firm's 50-day simple moving average is $103.38 and its 200 day simple moving average is $94.43. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $115.47.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company had revenue of $6.03 billion during the quarter, compared to analysts' expectations of $5.89 billion. During the same period in the prior year, the business posted $3.60 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, September 3rd. Lear's payout ratio is presently 35.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LEA shares. Wells Fargo & Company lifted their price objective on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Bank of America raised their target price on Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Citigroup boosted their price target on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Morgan Stanley cut their target price on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Lear from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $113.00.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.