Lyrical Asset Management LP Has $93.53 Million Position in Lear Corporation $LEA

Key Points

• Lyrical Asset Management LP increased its stake in Lear Corporation by 0.3%, now holding over 1 million shares valued at approximately $93.5 million.
• Lear reported quarterly earnings of $3.47 per share, surpassing estimates, with revenue of $6.03 billion, which was above analyst expectations.
• The company declared a quarterly dividend of $0.77 per share, representing a yield of 3.0%, with a current dividend payout ratio of 35.94%.

Lyrical Asset Management LP raised its position in shares of Lear Corporation (NYSE:LEA - Free Report) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,216 shares of the auto parts company's stock after purchasing an additional 3,522 shares during the period. Lear accounts for about 1.4% of Lyrical Asset Management LP's investment portfolio, making the stock its 29th largest position. Lyrical Asset Management LP owned approximately 1.98% of Lear worth $93,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEA. Oldfield Partners LLP purchased a new stake in shares of Lear during the 1st quarter worth about $53,799,000. First Trust Advisors LP raised its stake in shares of Lear by 45.9% during the 4th quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company's stock worth $107,313,000 after purchasing an additional 356,760 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock worth $247,566,000 after purchasing an additional 283,838 shares in the last quarter. Millennium Management LLC raised its stake in shares of Lear by 394.7% during the 4th quarter. Millennium Management LLC now owns 244,273 shares of the auto parts company's stock worth $23,133,000 after purchasing an additional 194,893 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Lear by 26.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 903,723 shares of the auto parts company's stock worth $85,583,000 after purchasing an additional 187,935 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Trading Up 0.5%

NYSE:LEA traded up $0.5550 on Tuesday, reaching $103.0950. The company's stock had a trading volume of 89,718 shares, compared to its average volume of 708,804. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $119.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The firm has a market cap of $5.49 billion, a PE ratio of 12.03, a PEG ratio of 0.62 and a beta of 1.30. The business's 50-day moving average price is $98.95 and its two-hundred day moving average price is $93.19.

Lear (NYSE:LEA - Get Free Report) last posted its earnings results 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 return on equity of 13.94% and a net margin of 2.05%.The firm had revenue of $6.03 billion during the quarter, compared to analysts' expectations of $5.89 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The company's revenue was up .3% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Lear's payout ratio is presently 35.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LEA. UBS Group lowered their price objective on Lear from $116.00 to $109.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Bank of America lifted their price objective on Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Wall Street Zen cut shares of Lear from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Barclays lifted their price objective on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $113.00.

Insider Buying and Selling at Lear

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason M. Cardew 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 $98.47, for a total value of $492,350.00. Following the completion of the transaction, the chief financial officer directly owned 20,244 shares of the company's stock, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,187 shares of company stock valued at $1,086,425. 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.