Dynamic Technology Lab Private Ltd Invests $725,000 in Lear Corporation $LEA

Key Points

• Dynamic Technology Lab Private Ltd acquired 8,215 shares of Lear Corporation during the first quarter, valued at approximately $725,000, highlighting the ongoing interest from institutional investors in the auto parts sector.
• Many hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS, have significantly increased their stakes in Lear, with AQR Capital Management boosting its holdings by an impressive 483.4% during the same period.
• Lear Corporation's stock has a consensus rating of "Hold" and was recently given a price target increase by Wells Fargo from $102 to $111 as analysts remain optimistic about its financial performance.

Dynamic Technology Lab Private Ltd bought a new position in shares of Lear Corporation (NYSE:LEA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,215 shares of the auto parts company's stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEA. Captrust Financial Advisors acquired a new position in shares of Lear during the fourth quarter worth $205,000. Ethic Inc. increased its holdings in shares of Lear by 20.7% during the fourth quarter. Ethic Inc. now owns 16,762 shares of the auto parts company's stock worth $1,587,000 after buying an additional 2,874 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Lear by 5.4% during the fourth quarter. Janus Henderson Group PLC now owns 25,179 shares of the auto parts company's stock worth $2,383,000 after buying an additional 1,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Lear by 8.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,684 shares of the auto parts company's stock worth $8,493,000 after buying an additional 6,610 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Lear by 394.7% during the fourth quarter. Millennium Management LLC now owns 244,273 shares of the auto parts company's stock worth $23,133,000 after buying an additional 194,893 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LEA shares. Wells Fargo & Company upped their price target on shares of Lear from $102.00 to $111.00 and gave the stock an "equal weight" rating in a report on Tuesday. Morgan Stanley lowered their price target 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. UBS Group decreased their price objective on Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Barclays increased their price objective on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Citigroup increased their price objective on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Lear currently has an average rating of "Hold" and a consensus price target of $112.70.

Lear Trading Down 3.2%

Lear stock traded down $3.50 during trading hours on Friday, reaching $105.68. 838,920 shares of the company's stock were exchanged, compared to its average volume of 517,673. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The firm's 50 day simple moving average is $104.21 and its 200 day simple moving average is $94.89. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $115.47. The firm has a market capitalization of $5.62 billion, a PE ratio of 12.33, a PEG ratio of 0.86 and a beta of 1.34.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results 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 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 period last year, the business posted $3.60 EPS. The business's revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. Research analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 yield of 2.9%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio (DPR) is presently 35.94%.

Insiders Place Their Bets

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

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.