Arnhold LLC Has $6.24 Million Stake in Lear Corporation $LEA

Key Points

• Arnhold LLC has reduced its stake in Lear Corporation by 35.7% during the 1st quarter, now owning 70,706 shares valued at approximately $6.24 million.
• Lear's recent quarterly earnings report shows an EPS of $3.47, exceeding expectations, with a revenue of $6.03 billion, reflecting a 0.3% year-over-year increase.
• The company has announced a quarterly dividend of $0.77 per share, with a dividend yield of 3.0% and a payout ratio of 35.94%.

Arnhold LLC reduced its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,706 shares of the auto parts company's stock after selling 39,332 shares during the period. Arnhold LLC owned 0.13% of Lear worth $6,238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LEA. Raymond James Financial Inc. bought a new position in shares of Lear during the fourth quarter worth about $2,984,000. Mariner LLC raised its holdings in Lear by 13.7% during the 4th quarter. Mariner LLC now owns 7,290 shares of the auto parts company's stock worth $690,000 after purchasing an additional 878 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Lear by 5.3% in the 4th quarter. MetLife Investment Management LLC now owns 30,626 shares of the auto parts company's stock worth $2,900,000 after purchasing an additional 1,547 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Lear by 80.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the auto parts company's stock worth $269,000 after purchasing an additional 1,263 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in shares of Lear by 46.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 966 shares of the auto parts company's stock worth $91,000 after buying an additional 307 shares during the period. Institutional investors own 97.04% of the company's stock.

Lear Stock Down 0.0%

LEA stock opened at $103.0350 on Friday. The stock's 50 day simple moving average is $99.47 and its 200 day simple moving average is $93.41. The company has a market cap of $5.48 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. 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 fifty-two week low of $73.85 and a fifty-two week high of $119.10.

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

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio (DPR) is currently 35.94%.

Insider Transactions at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of Lear stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the transaction, the director owned 84 shares of the company's stock, valued at $7,800.24. This trade represents a 93.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,187 shares of company stock valued at $1,086,425 over the last three months. Corporate insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

LEA has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a report on Monday, June 16th. UBS Group lowered their price objective on Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. The Goldman Sachs Group set a $88.00 price objective on Lear and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on Lear from $100.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Barclays lifted their target price on Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $113.00.

Lear Company Profile

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.

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