LSV Asset Management Boosts Position in Lear Corporation $LEA

Key Points

• LSV Asset Management increased its Lear Corporation stake by 4.8% in the fourth quarter, buying an additional 32,810 shares and bringing its total to 713,741 shares worth about $81.8 million.
• Several other institutions also adjusted positions in Lear, and 97.04% of the stock is owned by hedge funds and other institutional investors, underscoring heavy institutional interest.
• Lear recently posted better-than-expected earnings with $3.87 EPS versus $3.51 estimated, while analysts now have a consensus rating of Hold and an average price target of $140.54.

LSV Asset Management grew its holdings in shares of Lear Corporation (NYSE:LEA - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 713,741 shares of the auto parts company's stock after buying an additional 32,810 shares during the period. LSV Asset Management owned 1.38% of Lear worth $81,795,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LEA. WealthCollab LLC purchased a new position in shares of Lear during the second quarter valued at approximately $28,000. Allworth Financial LP increased its stake in shares of Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company's stock valued at $31,000 after buying an additional 119 shares during the period. Global Retirement Partners LLC increased its stake in shares of Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company's stock valued at $31,000 after buying an additional 245 shares during the period. Advisory Services Network LLC purchased a new position in shares of Lear during the third quarter valued at approximately $33,000. Finally, Quarry LP increased its stake in shares of Lear by 94.9% during the third quarter. Quarry LP now owns 458 shares of the auto parts company's stock valued at $46,000 after buying an additional 223 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lear

In other news, VP Marianne Vidershain sold 1,590 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total value of $214,650.00. Following the sale, the vice president directly owned 1,862 shares of the company's stock, valued at approximately $251,370. This represents a 46.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LEA shares. Bank of America initiated coverage on Lear in a research note on Wednesday, March 4th. They set a "neutral" rating on the stock. Citigroup upped their price target on Lear from $177.00 to $179.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Royal Bank Of Canada upped their price target on Lear from $134.00 to $138.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 5th. Argus raised Lear to a "strong-buy" rating in a research note on Monday, February 9th. Finally, The Goldman Sachs Group upped their price target on Lear from $115.00 to $131.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Lear currently has a consensus rating of "Hold" and an average target price of $140.54.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlighted Lear (LEA) as a top-ranked growth stock, which may draw in growth-oriented investors and support the shares. Lear (LEA) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Recent articles about saunas, red light therapy, crypto regulation, and other unrelated topics do not appear to affect Lear’s shares. The health benefits of saunas: backed by research and experts
• Neutral Sentiment: Lear’s latest reported results showed EPS ahead of expectations and revenue growth, helping reinforce the stock’s positive momentum, though this was from an earlier earnings release rather than a new catalyst today.

Lear Price Performance

Shares of LEA stock opened at $139.73 on Friday. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.71 and a beta of 1.21. The business's fifty day moving average is $125.37 and its 200 day moving average is $121.21. Lear Corporation has a twelve month low of $86.14 and a twelve month high of $142.84. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA - Get Free Report) last released its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.84 billion. During the same period in the prior year, the firm posted $3.12 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear's dividend payout ratio is currently 30.80%.

About Lear

Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

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