16,582 Shares in Lear Corporation $LEA Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC invested approximately $1.46 million in Lear Corporation by acquiring 16,582 shares, reflecting strong interest from institutional investors who own over 97% of the stock.
• Lear Corporation reported $3.47 earnings per share, beating analyst estimates, with quarterly revenue of $6.03 billion compared to expected revenue of $5.89 billion.
• The company announced a quarterly dividend of $0.77 per share, indicating an annualized dividend yield of 2.8%, with a payout ratio of 35.94%.

Jump Financial LLC acquired a new position in shares of Lear Corporation (NYSE:LEA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,582 shares of the auto parts company's stock, valued at approximately $1,463,000.

Several other hedge funds have also made changes to their positions in LEA. Putney Financial Group LLC acquired a new stake in shares of Lear during the fourth quarter worth about $58,000. Fifth Third Bancorp boosted its stake in shares of Lear by 131.8% during the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock worth $67,000 after buying an additional 435 shares during the period. CX Institutional acquired a new stake in shares of Lear during the first quarter worth about $71,000. GAMMA Investing LLC lifted its position in Lear by 57.9% in the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock valued at $83,000 after purchasing an additional 344 shares during the period. Finally, Bayforest Capital Ltd lifted its position in Lear by 955.2% in the first quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company's stock valued at $98,000 after purchasing an additional 1,003 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

LEA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. UBS Group reduced their price objective on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Citigroup raised their price objective on shares of Lear from $123.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Wall Street Zen downgraded shares of Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Lear has an average rating of "Hold" and a consensus price target of $113.00.

Insider Activity

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the sale, the director owned 84 shares in the company, valued at approximately $7,800.24. This represents a 93.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the sale, the chief executive officer owned 38,729 shares in the company, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,187 shares of company stock valued at $1,086,425 in the last ninety days. Company insiders own 0.91% of the company's stock.

Lear Price Performance

Shares of Lear stock traded up $0.29 during trading on Wednesday, hitting $109.54. 80,110 shares of the company were exchanged, compared to its average volume of 694,542. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. Lear Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $115.47. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 0.67 and a beta of 1.34. The firm has a 50 day moving average price of $102.41 and a 200 day moving average price of $94.19.

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

Lear Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.8%. Lear's payout ratio is currently 35.94%.

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.