Lear Corporation $LEA Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in shares of Lear Corporation (NYSE:LEA - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,504 shares of the auto parts company's stock after selling 1,590 shares during the period. California State Teachers Retirement System owned about 0.12% of Lear worth $7,843,046 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Lear by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,943,480 shares of the auto parts company's stock valued at $356,380,000 after acquiring an additional 107,678 shares during the last quarter. Norges Bank bought a new stake in Lear during the 4th quarter worth about $82,016,000. LSV Asset Management grew its position in shares of Lear by 4.8% in the 4th quarter. LSV Asset Management now owns 713,741 shares of the auto parts company's stock valued at $81,795,000 after purchasing an additional 32,810 shares during the period. RWC Asset Management LLP grew its holdings in Lear by 3.5% during the fourth quarter. RWC Asset Management LLP now owns 589,753 shares of the auto parts company's stock worth $67,586,000 after purchasing an additional 19,705 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Lear during the 2nd quarter worth approximately $65,397,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LEA shares. Deutsche Bank Aktiengesellschaft set a $131.00 price objective on Lear in a research note on Monday, August 3rd. BNP Paribas Exane cut Lear from an "outperform" rating to a "neutral" rating in a research note on Monday, August 3rd. Barclays raised their target price on shares of Lear from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their target price on shares of Lear from $137.00 to $138.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Lear from $138.00 to $143.00 and gave the stock a "sector perform" rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Lear presently has an average rating of "Hold" and a consensus target price of $146.33.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: JPMorgan’s new $150 price target remains approximately 18.2% above Lear’s recent trading level, indicating analysts still see potential appreciation if operating conditions improve. JPMorgan reaffirms neutral rating on Lear
• Neutral Sentiment: The bank maintained its Neutral recommendation, suggesting Lear’s current risk-reward profile is viewed as balanced rather than compellingly bullish.
• Negative Sentiment: JPMorgan cut its price target from $175 to $150. The reduction may weigh on investor sentiment because it reflects lower expectations for Lear’s earnings outlook or industry conditions, even though the revised target still implies upside. JPMorgan cuts Lear price target

Insider Activity

In related news, Director Conrad Mallett, Jr. sold 1,646 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 37 shares in the company, valued at $4,489.95. This represents a 97.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond E. Scott sold 50,000 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value 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 $6,739,936.93. This represents a 50.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.02% of the stock is currently owned by corporate insiders.

Lear Price Performance

Shares of Lear stock traded down $1.46 on Tuesday, reaching $127.41. 301,158 shares of the stock were exchanged, compared to its average volume of 603,103. The firm has a market cap of $6.28 billion, a PE ratio of 11.88, a P/E/G ratio of 0.80 and a beta of 1.26. The firm's 50 day moving average is $131.16 and its 200-day moving average is $130.56. 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 one year low of $96.04 and a one year high of $150.33.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the business earned $3.06 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Lear Corporation will post 14.86 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd will be issued 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 2.4%. Lear's dividend payout ratio is presently 28.70%.

Lear Profile

Lear Corporation is a global automotive technology company that designs and manufactures systems and components used in passenger vehicles. Its business is organized primarily around two areas: seating and E-Systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that help manage power, data and connectivity within vehicles.

The company's E-Systems offerings include low- and high-voltage wiring systems, connection systems, battery and power-management solutions, electronic control modules, displays and software-enabled technologies.

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