Edgestream Partners L.P. Makes New Investment in Lear Corporation $LEA

Edgestream Partners L.P. bought a new position in shares of Lear Corporation (NYSE:LEA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 46,726 shares of the auto parts company's stock, valued at approximately $5,658,000. Edgestream Partners L.P. owned about 0.09% of Lear at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in Lear by 46,707.8% during the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company's stock valued at $109,054,000 after buying an additional 949,569 shares in the last quarter. Norges Bank bought a new position in Lear in the 4th quarter worth about $82,016,000. Balyasny Asset Management L.P. bought a new position in Lear in the 2nd quarter worth about $39,656,000. Caisse de depot et placement du Quebec purchased a new position in shares of Lear during the third quarter worth approximately $40,984,000. Finally, AQR Capital Management LLC raised its stake in shares of Lear by 34.1% during the fourth quarter. AQR Capital Management LLC now owns 789,745 shares of the auto parts company's stock valued at $90,505,000 after acquiring an additional 200,617 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Raymond E. Scott sold 50,000 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the transaction, the chief executive officer directly owned 49,789 shares in the company, valued at $6,739,936.93. The trade was a 50.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicholas Jon Roelli sold 2,336 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $141.38, for a total value of $330,263.68. Following the transaction, the senior vice president directly owned 2,339 shares in the company, valued at $330,687.82. This represents a 49.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,026 shares of company stock valued at $8,498,248 in the last ninety days. 1.02% of the stock is currently owned by insiders.

Lear Price Performance

LEA opened at $146.01 on Friday. The firm has a market capitalization of $7.31 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The business's 50-day moving average is $140.25 and its two-hundred day moving average is $131.12. Lear Corporation has a 1 year low of $91.67 and a 1 year high of $150.33.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.84 billion. During the same period last year, the business earned $3.12 EPS. The company's revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Lear Corporation will post 14.81 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.1%. Lear's dividend payout ratio is presently 30.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LEA. Citigroup increased their price objective on Lear from $177.00 to $179.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Royal Bank Of Canada upped their target price on Lear from $138.00 to $143.00 and gave the stock a "sector perform" rating in a report on Monday, July 13th. Weiss Ratings raised Lear from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company raised their price target on Lear from $133.00 to $137.00 and gave the company an "equal weight" rating in a research note on Thursday, June 25th. Finally, TD Cowen upgraded Lear from a "hold" rating to a "buy" rating and lifted their price objective for the company from $138.00 to $165.00 in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Lear currently has a consensus rating of "Hold" and an average target price of $144.62.

Key Stories Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analysts expect second-quarter earnings per share of approximately $3.98 on revenue of $6.15 billion. The projected revenue increase from the year-ago period suggests continued demand for Lear’s automotive seating and electrical systems businesses. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: The earnings release is expected to provide updates on margins, vehicle-production trends, supply-chain conditions, cash flow and full-year guidance. Analysts’ forecast revisions ahead of the report indicate heightened attention, but the available coverage does not identify a clear change in the consensus outlook. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Negative Sentiment: Because Lear is trading close to its 52-week high, expectations for the results and outlook are elevated. Any revenue shortfall, weaker profitability or cautious guidance could trigger profit-taking, explaining the pre-earnings pressure despite the company’s previous quarterly EPS beat. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Lear Profile

Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

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