Lear Corporation $LEA Shares Sold by Grimes & Company Inc.

Key Points

• Grimes & Company Inc. significantly reduced its stake in Lear Corporation by 82.0%, now holding 14,202 shares valued at $1.35 million after selling 64,715 shares in the second quarter.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Voya Investment Management LLC, increased their holdings in Lear during the first quarter, reflecting new interest in the stock.
• Analysts have lowered their price targets for Lear, with UBS Group setting a target of $106.00, while the consensus rating remains a "Hold" with an average target price of $113.70.

Grimes & Company Inc. cut its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 82.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,202 shares of the auto parts company's stock after selling 64,715 shares during the quarter. Grimes & Company Inc.'s holdings in Lear were worth $1,349,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased 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 purchasing an additional 3,409 shares during the period. Jump Financial LLC acquired a new position in Lear during the first quarter worth $1,463,000. Dynamic Technology Lab Private Ltd purchased a new position in Lear in the first quarter worth $725,000. Voya Investment Management LLC raised its position in Lear by 34.4% in the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company's stock worth $4,031,000 after acquiring an additional 11,696 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in Lear by 11.5% in the first quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company's stock valued at $6,663,000 after acquiring an additional 7,800 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LEA has been the topic of several research analyst reports. UBS Group decreased their price target on Lear from $109.00 to $106.00 and set a "neutral" rating on the stock in a research note on Monday. Wall Street Zen lowered shares of Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America cut Lear from a "buy" rating to a "neutral" rating and lowered their price target for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $104.00 price objective on Lear in a report on Monday, September 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lear in a report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lear has a consensus rating of "Hold" and an average target price of $113.70.

Lear Trading Down 1.0%

Shares of Lear stock opened at $102.98 on Tuesday. Lear Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $113.10. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $103.47 and a 200-day simple moving average of $95.77. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.32.

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, topping analysts' consensus estimates of $3.23 by $0.24. The company had revenue of $6.03 billion for 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%.Lear's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.0%. Lear's dividend payout ratio (DPR) is 35.94%.

Insiders Place Their Bets

In related news, CEO Raymond E. Scott sold 5,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction 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 owned 20,244 shares in the company, valued at approximately $1,993,426.68. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.

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.

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