MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows 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. grew its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LEA. WPG Advisers LLC purchased a new stake in shares of Lear in the 1st quarter worth about $39,000. Putney Financial Group LLC purchased a new stake in shares of Lear in the 4th quarter worth about $58,000. Fifth Third Bancorp boosted its position in shares of Lear by 131.8% in the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock worth $67,000 after buying an additional 435 shares in the last quarter. CX Institutional purchased a new stake in shares of Lear in the 1st quarter worth about $71,000. Finally, GAMMA Investing LLC boosted its position in shares of Lear by 57.9% in the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock worth $83,000 after buying an additional 344 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LEA. UBS Group cut their target price on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Wall Street Zen downgraded shares of Lear from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Morgan Stanley cut their target price on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. 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 note on Tuesday, September 9th. Finally, Barclays boosted their target price on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $112.70.

Insider Buying and Selling

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the company's stock in a transaction that occurred on 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 owned 38,729 shares in the company, valued at $3,747,805.33. This represents a 11.43% decrease in their position. The transaction 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 company's stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 owned 20,244 shares of the company's stock, valued at approximately $1,993,426.68. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.

Lear Trading Down 0.5%

Shares of NYSE:LEA traded down $0.50 during trading on Monday, reaching $105.13. 92,187 shares of the stock were exchanged, compared to its average volume of 694,694. 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 Corporation has a 12-month low of $73.85 and a 12-month high of $115.47. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. The firm's 50-day moving average price is $104.21 and its 200 day moving average price is $94.86.

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

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio is currently 35.94%.

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.