Harvest Investment Advisors LLC Takes Position in Lear Corporation $LEA

Harvest Investment Advisors LLC purchased a new stake in shares of Lear Corporation (NYSE:LEA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,375 shares of the auto parts company's stock, valued at approximately $1,991,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthCollab LLC purchased a new stake in Lear in the 2nd quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in Lear in the 4th quarter worth approximately $30,000. Allworth Financial LP increased its holdings in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company's stock worth $31,000 after acquiring an additional 119 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Lear by 942.3% in the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company's stock worth $31,000 after acquiring an additional 245 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Lear in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Lear Trading Down 2.0%

LEA stock opened at $141.50 on Wednesday. Lear Corporation has a 1-year low of $89.29 and a 1-year high of $150.33. 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 company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.73 and a beta of 1.23. The business has a 50 day simple moving average of $134.12 and a two-hundred day simple moving average of $125.80.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the company posted $3.12 EPS. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. Lear's dividend payout ratio is presently 30.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen raised shares of Lear from a "hold" rating to a "buy" rating and increased their target price for the stock from $138.00 to $165.00 in a report on Tuesday, May 26th. Wells Fargo & Company increased their target price on shares of Lear from $126.00 to $133.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Citigroup increased their target price on shares of Lear from $177.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Barclays increased their target price on shares of Lear from $140.00 to $150.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Finally, Morgan Stanley set a $130.00 target price on shares of Lear in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $143.08.

Insiders Place Their Bets

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the transaction, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. This represents a 27.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nicholas Jon Roelli sold 2,336 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the transaction, the senior vice president owned 2,339 shares of the company's stock, valued at $330,687.82. The trade was a 49.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,026 shares of company stock worth $1,729,748 in the last three months. 1.02% of the stock is owned by company insiders.

Key Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Investors may be encouraged by Lear’s recent earnings beat, which showed EPS of $3.87 versus estimates of $3.51 and revenue growth of 4.7% year over year, reinforcing confidence in the company’s profitability and execution.
• Positive Sentiment: The stock’s strong technical setup relative to its 50-day and 200-day moving averages suggests momentum has been improving, which can attract buyers when there is no negative company news.

Lear Company 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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