Gotham Asset Management LLC Buys 74,890 Shares of Lear Corporation $LEA

Key Points

• Gotham Asset Management LLC increased its stake in Lear Corporation (NYSE:LEA) by 50.3% during the first quarter, owning 223,659 shares valued at approximately $19.73 million.
• Analysts have mixed ratings on Lear's stock, with a consensus rating of "Hold" and an average price target of $113.00, following various adjustments by institutions.
• Lear Corporation recently declared a quarterly dividend of $0.77, providing an annualized yield of 2.8%, with a payout ratio of 35.94%.

Gotham Asset Management LLC boosted its position in Lear Corporation (NYSE:LEA - Free Report) by 50.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 223,659 shares of the auto parts company's stock after acquiring an additional 74,890 shares during the period. Gotham Asset Management LLC owned 0.42% of Lear worth $19,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEA. Vanguard Group Inc. grew its position in shares of Lear by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company's stock valued at $587,315,000 after purchasing an additional 165,494 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lear by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,631,477 shares of the auto parts company's stock valued at $232,145,000 after buying an additional 17,250 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Lear by 6.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company's stock worth $208,052,000 after buying an additional 145,751 shares in the last quarter. Lyrical Asset Management LP boosted its position in shares of Lear by 0.3% in the first quarter. Lyrical Asset Management LP now owns 1,060,216 shares of the auto parts company's stock valued at $93,532,000 after acquiring an additional 3,522 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Lear by 26.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 903,723 shares of the auto parts company's stock valued at $85,583,000 after acquiring an additional 187,935 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Insider Buying and Selling

In related news, CFO Jason M. Cardew sold 5,000 shares of the company's 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 completion of the sale, the chief financial officer directly owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the 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 sale, the chief executive officer directly owned 38,729 shares of the company's stock, 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. Insiders have sold a total of 11,187 shares of company stock valued at $1,086,425 over the last three months. 0.91% of the stock is owned by company insiders.

Lear Price Performance

LEA traded down $1.51 during midday trading on Tuesday, hitting $111.24. The stock had a trading volume of 683,688 shares, compared to its average volume of 695,383. The company has a market cap of $5.92 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.33. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $115.47. The business has a fifty day moving average of $103.74 and a 200 day moving average of $94.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company had revenue of $6.03 billion during the quarter, compared to analysts' expectations of $5.89 billion. During the same quarter in the prior 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. As a group, equities analysts forecast that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.8%. Lear's dividend payout ratio (DPR) is currently 35.94%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays increased their target price on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Morgan Stanley dropped their price objective on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Bank of America boosted their target price on Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup raised their price target on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company boosted their price objective on Lear from $102.00 to $111.00 and gave the stock an "equal weight" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Lear has a consensus rating of "Hold" and an average price target of $113.73.

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.