New Age Alpha Advisors LLC Has $4.34 Million Position in Lear Corporation (NYSE:LEA)

Key Points

• New Age Alpha Advisors LLC increased its stake in Lear Corporation by 20.4%, now owning approximately 49,206 shares valued at $4.34 million.
• Lear Corporation reported earnings of $3.47 per share for the last quarter, surpassing estimates, with a revenue of $6.03 billion—a slight year-over-year increase of 0.3%.
• The company announced a quarterly dividend of $0.77 per share, representing an annualized dividend of $3.08 and a dividend yield of 3.3%.

New Age Alpha Advisors LLC raised its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 20.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,206 shares of the auto parts company's stock after buying an additional 8,333 shares during the period. New Age Alpha Advisors LLC owned about 0.09% of Lear worth $4,341,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LEA. Oldfield Partners LLP acquired a new stake in shares of Lear during the 1st quarter valued at $53,799,000. First Trust Advisors LP boosted 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 valued at $107,313,000 after buying an additional 356,760 shares during the period. Dimensional Fund Advisors LP boosted 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 valued at $247,566,000 after buying an additional 283,838 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Lear by 78.6% during the 4th quarter. Russell Investments Group Ltd. now owns 463,467 shares of the auto parts company's stock valued at $43,890,000 after buying an additional 203,963 shares during the period. Finally, Millennium Management LLC boosted 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 valued at $23,133,000 after buying an additional 194,893 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

Lear Stock Up 1.9%

Shares of LEA opened at $94.69 on Wednesday. The company has a 50-day simple moving average of $97.12 and a 200-day simple moving average of $92.98. The firm has a market capitalization of $5.04 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.56 and a beta of 1.30. 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 52 week low of $73.85 and a 52 week high of $119.10.

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 for the quarter, beating the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period in the previous year, the business earned $3.60 EPS. The firm's revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, June 5th. Lear's payout ratio is 35.94%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LEA shares. Bank of America raised their price target on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a report on Monday, June 16th. UBS Group cut their price target on shares of Lear from $116.00 to $109.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price target on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded shares of Lear from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $113.00.

Insider Activity

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of Lear 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 sale, the director directly owned 84 shares in the company, valued at approximately $7,800.24. The trade was a 93.39% decrease in their position. The sale 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 Lear stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total transaction of $492,350.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,187 shares of company stock worth $1,086,425. Corporate insiders own 0.91% of the company's stock.

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.

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