Harbor Capital Advisors Inc. Has $4.71 Million Holdings in Lear Corporation $LEA

Key Points

• Harbor Capital Advisors Inc. increased its stake in Lear Corporation by 25.1% during the second quarter, reaching a total of 49,567 shares valued at approximately $4.7 million.
• Lear Corporation reported earnings of $3.47 per share, surpassing analysts’ expectations of $3.23 and showing a revenue increase of 0.3% year-over-year to $6.03 billion.
• The company announced a quarterly dividend of $0.77 per share, with an annualized yield of 2.9%, reflecting a dividend payout ratio of 35.94%.

Harbor Capital Advisors Inc. increased its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 25.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 49,567 shares of the auto parts company's stock after purchasing an additional 9,945 shares during the period. Harbor Capital Advisors Inc. owned 0.09% of Lear worth $4,708,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LEA. SummerHaven Investment Management LLC boosted its position 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 valued at $599,000 after buying an additional 152 shares during the period. Wellington Management Group LLP grew its position in Lear by 5.2% during the 4th 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 during the period. Entropy Technologies LP boosted its stake in shares of Lear by 2.3% during the 1st quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company's stock worth $947,000 after acquiring an additional 244 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Lear by 7.6% in the 1st quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock valued at $317,000 after buying an additional 255 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Lear by 7.8% in the 1st 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 during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LEA shares. Citigroup lifted their price objective on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Bank of America downgraded shares of Lear from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $135.00 to $123.00 in a research note on Wednesday, September 10th. Barclays raised their price target 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. 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, Wells Fargo & Company boosted their price target on shares of Lear from $102.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $112.70.

Lear Price Performance

NYSE:LEA traded down $2.20 on Friday, reaching $105.15. 1,506,074 shares of the company's stock traded hands, compared to its average volume of 607,582. The firm has a market cap of $5.60 billion, a PE ratio of 12.27, a P/E/G ratio of 0.82 and a beta of 1.34. The stock has a 50-day simple moving average of $104.16 and a 200-day simple moving average of $95.31. 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 12 month low of $73.85 and a 12 month high of $115.47.

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

Lear Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.9%. Lear's dividend payout ratio is presently 35.94%.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 5,000 shares of the business'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 sale, the chief executive officer owned 38,729 shares of the company's stock, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason M. Cardew sold 5,000 shares of the company'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 transaction of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares of the company's stock, valued at $1,993,426.68. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.91% of the company's stock.

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.