8,351 Shares in Lear Corporation $LEA Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC has acquired a new stake in Lear Corporation, purchasing 8,351 shares valued at approximately $737,000 during the 1st quarter of the year.
• Recent analyst reports indicate a generally positive outlook, with Citigroup and Bank of America raising their price targets on Lear shares, reflecting strong buy ratings.
• Lear Corporation has announced a quarterly dividend of $0.77 per share, representing an annualized payout of $3.08 and a yield of 2.8%.

Ieq Capital LLC purchased a new position in shares of Lear Corporation (NYSE:LEA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,351 shares of the auto parts company's stock, valued at approximately $737,000.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Lear by 88.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the auto parts company's stock worth $640,000 after acquiring an additional 3,409 shares during the last quarter. Jump Financial LLC bought a new stake in Lear during the 1st quarter worth approximately $1,463,000. Eagle Global Advisors LLC grew its position in Lear by 11.5% during the 1st quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company's stock worth $6,663,000 after acquiring an additional 7,800 shares during the last quarter. State of Alaska Department of Revenue grew its position in Lear by 62.3% during the 1st quarter. State of Alaska Department of Revenue now owns 26,283 shares of the auto parts company's stock worth $2,318,000 after acquiring an additional 10,085 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Lear by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 513,408 shares of the auto parts company's stock worth $45,293,000 after acquiring an additional 17,644 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEA has been the topic of a number of research analyst reports. Wall Street Zen lowered Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price objective on Lear from $100.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Citigroup upped their price objective on Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Bank of America upped their price objective on Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Morgan Stanley reduced their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Lear currently has an average rating of "Hold" and an average target price of $113.00.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the sale, the chief executive officer owned 38,729 shares of the company's stock, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason M. Cardew sold 5,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 20,244 shares in the company, valued at $1,993,426.68. The trade was a 19.81% 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. 0.91% of the stock is owned by company insiders.

Lear Trading Up 0.6%

Shares of NYSE:LEA traded up $0.66 during midday trading on Friday, hitting $111.03. The company had a trading volume of 388,099 shares, compared to its average volume of 487,893. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $115.47. 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 $5.91 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.67 and a beta of 1.34. The firm has a fifty day simple moving average of $103.38 and a 200 day simple moving average of $94.47.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%.The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period last year, the company earned $3.60 EPS. The firm's revenue was up .3% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. On average, analysts predict that Lear Corporation will post 12.89 EPS for the current 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 given a $0.77 dividend. 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 (DPR) is currently 35.94%.

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.