MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Lear Corporation $LEA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lear Corporation by 10.0% during the first quarter, owning approximately 0.18% of the company valued at $8.7 million.
• Other hedge funds made significant adjustments to their holdings of Lear, with Gotham Asset Management increasing its stake by 50.3% and AQR Capital Management boosting theirs by 483.4%.
• Lear Corporation recently declared a quarterly dividend of $0.77 per share, translating to an annualized dividend of $3.08 and a yield of 2.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lear Corporation (NYSE:LEA - Free Report) by 10.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,642 shares of the auto parts company's stock after purchasing an additional 8,958 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.18% of Lear worth $8,702,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Gotham Asset Management LLC boosted its holdings in Lear by 50.3% in the 1st quarter. Gotham Asset Management LLC now owns 223,659 shares of the auto parts company's stock valued at $19,731,000 after purchasing an additional 74,890 shares during the period. AQR Capital Management LLC raised its position in shares of Lear by 483.4% in the 1st quarter. AQR Capital Management LLC now owns 567,335 shares of the auto parts company's stock valued at $49,625,000 after buying an additional 470,096 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Lear by 24.6% in the 1st quarter. Advisors Asset Management Inc. now owns 5,874 shares of the auto parts company's stock valued at $518,000 after buying an additional 1,161 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Lear in the 1st quarter valued at approximately $9,291,000. Finally, Perbak Capital Partners LLP acquired a new position in shares of Lear in the 1st quarter valued at approximately $332,000. Institutional investors own 97.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LEA shares. Wells Fargo & Company boosted their target price on shares of Lear from $102.00 to $111.00 and gave the company an "equal weight" rating in a research report on Tuesday. Citigroup upped 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. Wall Street Zen cut shares of Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group lowered their price objective on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Finally, Morgan Stanley lowered their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Lear has an average rating of "Hold" and a consensus price target of $112.70.

Lear Trading Down 3.2%

NYSE LEA traded down $3.50 on Friday, hitting $105.68. The company's stock had a trading volume of 838,920 shares, compared to its average volume of 517,673. 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 1-year low of $73.85 and a 1-year high of $115.47. The company's 50-day moving average is $104.21 and its 200 day moving average is $94.89. The firm has a market cap of $5.62 billion, a PE ratio of 12.33, a PEG ratio of 0.86 and a beta of 1.34.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating 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 net margin of 2.05% and a return on equity of 13.94%. The company's quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. Lear has set its FY 2025 guidance at EPS. As a group, analysts predict that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

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 dividend of $0.77 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $3.08 annualized dividend and a yield of 2.9%. Lear's dividend payout ratio is presently 35.94%.

Insiders Place Their Bets

In other news, CFO Jason M. Cardew sold 5,000 shares of the 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 sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the sale, the director owned 84 shares of the company's stock, valued at approximately $7,800.24. This represents a 93.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,187 shares of company stock worth $1,086,425. 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.