Charles Schwab Investment Management Inc. Buys 17,644 Shares of Lear Corporation $LEA

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Lear Corporation by 3.6%, owning 513,408 shares valued at approximately $45.3 million as of its latest SEC filing.
• Lear Corporation reported an EPS of $3.47 for the last quarter, exceeding expectations, with total revenues of $6.03 billion, reflecting a 0.3% year-over-year increase.
• The company announced a quarterly dividend of $0.77 per share, equating to an annualized dividend of $3.08 and a yield of 3.0%, with an ex-dividend date set for September 3rd.

Charles Schwab Investment Management Inc. boosted its position in Lear Corporation (NYSE:LEA - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 513,408 shares of the auto parts company's stock after purchasing an additional 17,644 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.96% of Lear worth $45,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in shares of Lear by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock valued at $599,000 after acquiring an additional 152 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Lear by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company's stock valued at $351,000 after acquiring an additional 183 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Lear by 7.6% during the 1st quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock valued at $317,000 after acquiring an additional 255 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Lear by 7.8% during the 1st quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company's stock valued at $315,000 after acquiring an additional 257 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Lear by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 8,159 shares of the auto parts company's stock valued at $720,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Stock Up 0.5%

Lear stock traded up $0.51 during mid-day trading on Tuesday, hitting $103.05. 346,169 shares of the company's stock were exchanged, compared to its average volume of 710,484. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.48 billion, a P/E ratio of 12.02, a P/E/G ratio of 0.62 and a beta of 1.30. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $119.10. The stock has a 50 day moving average of $98.95 and a two-hundred day moving average of $93.19.

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

Lear Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.08 annualized dividend and a dividend yield of 3.0%. Lear's dividend payout ratio (DPR) is presently 35.94%.

Insider Transactions at Lear

In other news, 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 transaction of $110,224.82. Following the completion of the sale, the director owned 84 shares of the company's stock, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jason M. Cardew sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total transaction of $492,350.00. Following the sale, the chief financial officer directly owned 20,244 shares of the company's stock, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,187 shares of company stock valued at $1,086,425. Corporate insiders own 0.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LEA. Bank of America increased their target price on Lear from $110.00 to $115.00 and gave the company a "buy" rating in a report on Monday, June 16th. Barclays increased their target price on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Citigroup increased their target price on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company increased their target price on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, UBS Group dropped their price target on shares of Lear from $116.00 to $109.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.