Lear Corporation $LEA Stock Holdings Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC sold 66,503 shares of Lear Corporation, reducing its stake by 63.4% to 38,388 shares, valued at approximately $3.39 million as reported in their latest 13F filing.
• Analysts have set varied price targets for Lear's stock, with Citigroup raising its target to $136 while Bank of America downgraded it to $123; the consensus rating is currently a "Hold" with an average target of $112.70.
• Lear Corporation announced a quarterly dividend of $0.77, representing an annual yield of 2.9%, with a payout ratio currently at 35.94% and an ex-dividend date of September 3rd.

Intech Investment Management LLC lowered its position in shares of Lear Corporation (NYSE:LEA - Free Report) by 63.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,388 shares of the auto parts company's stock after selling 66,503 shares during the period. Intech Investment Management LLC owned 0.07% of Lear worth $3,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC grew its stake in shares of Lear by 2.3% during the first quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock worth $599,000 after purchasing an additional 152 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Lear by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company's stock worth $351,000 after purchasing an additional 183 shares in the last quarter. Entropy Technologies LP grew its stake in shares of Lear by 2.3% during the first quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company's stock worth $947,000 after purchasing an additional 244 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Lear by 7.6% in the first quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock valued at $317,000 after acquiring an additional 255 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Lear by 7.8% in the first quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company's stock valued at $315,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total transaction of $492,350.00. Following the transaction, the chief financial officer owned 20,244 shares in the company, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the transaction, the chief executive officer owned 38,729 shares in the company, valued at $3,747,805.33. The trade was a 11.43% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.

Lear Price Performance

Shares of LEA stock traded down $0.33 during trading hours on Monday, hitting $105.30. The company's stock had a trading volume of 590,295 shares, compared to its average volume of 539,454. The business has a fifty day moving average of $104.26 and a 200-day moving average of $94.94. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 0.83 and a beta of 1.33. Lear Corporation has a twelve month low of $73.85 and a twelve 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.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.89 billion. During the same period in the prior year, the business earned $3.60 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The business 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 $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio (DPR) is 35.94%.

Analyst Ratings Changes

Several research firms have issued reports on LEA. Wells Fargo & Company upped their price objective on shares of Lear from $102.00 to $111.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 9th. UBS Group reduced their target price on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Wall Street Zen cut shares of Lear from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup upped their target price on shares of Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Barclays upped their target price on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.70.

Lear 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.