Eisler Capital Management Ltd. Buys New Position in Lear Corporation $LEA

Key Points

• Eisler Capital Management Ltd. has invested approximately $313,000 in Lear Corporation by purchasing 3,546 shares during the first quarter according to a recent SEC filing.
• Several institutional investors have significantly increased their stakes in Lear, with Schonfeld Strategic Advisors LLC boosting their holdings by 195.2% during the fourth quarter.
• Lear Corporation recently announced a quarterly dividend of $0.77 per share, resulting in an annualized dividend yield of 2.8% for stockholders of record.

Eisler Capital Management Ltd. bought a new stake in shares of Lear Corporation (NYSE:LEA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,546 shares of the auto parts company's stock, valued at approximately $313,000.

Other hedge funds have also made changes to their positions in the company. Oldfield Partners LLP bought a new position in Lear during the 1st quarter worth $53,799,000. American Century Companies Inc. grew its position in shares of Lear by 105.7% during the first quarter. American Century Companies Inc. now owns 710,962 shares of the auto parts company's stock worth $62,721,000 after acquiring an additional 365,382 shares during the last quarter. Millennium Management LLC grew its position 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 acquiring an additional 194,893 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Lear by 26.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 903,723 shares of the auto parts company's stock worth $85,583,000 after acquiring an additional 187,935 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Lear in the 4th quarter valued at about $17,677,000. Institutional investors own 97.04% of the company's stock.

Lear Stock Down 0.2%

Shares of Lear stock traded down $0.27 during trading on Tuesday, hitting $109.73. 338,166 shares of the stock traded hands, compared to its average volume of 696,571. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The stock has a market cap of $5.84 billion, a P/E ratio of 12.78, a PEG ratio of 0.67 and a beta of 1.33. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $116.29. The company has a fifty day moving average price of $102.06 and a two-hundred day moving average price of $94.08.

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

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio is 35.94%.

Insider Activity

In related news, 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 value of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction that occurred on 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 directly owned 84 shares of the company's stock, valued at $7,800.24. The trade was a 93.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,187 shares of company stock valued at $1,086,425. Insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LEA shares. Morgan Stanley reduced their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Barclays increased their target price on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group set a $88.00 price objective on Lear and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Citigroup boosted their price target on shares of Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.