Nuveen LLC Purchases Shares of 130,065 Lear Corporation $LEA

Key Points

• Nuveen LLC has acquired a new stake in Lear Corporation, purchasing 130,065 shares valued at approximately $11.47 million, representing about 0.24% of the company's stock.
• Institutional investors continue to increase their stakes in Lear, with notable growth from Vanguard Group Inc. and Massachusetts Financial Services Co., contributing to institutional ownership of 97.04%.
• Lear Corporation recently announced a quarterly dividend of $0.77 per share, which is set to be paid on September 23rd, with a current yield of 2.8%.

Nuveen LLC purchased a new stake in shares of Lear Corporation (NYSE:LEA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 130,065 shares of the auto parts company's stock, valued at approximately $11,474,000. Nuveen LLC owned approximately 0.24% of Lear at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Lear by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company's stock worth $587,315,000 after acquiring an additional 165,494 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Lear by 6.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company's stock worth $208,052,000 after acquiring an additional 145,751 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Lear by 26.3% in 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 acquiring an additional 187,935 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Lear by 32.0% in the 4th quarter. Voloridge Investment Management LLC now owns 655,520 shares of the auto parts company's stock worth $62,078,000 after acquiring an additional 159,087 shares in the last quarter. Finally, ARGA Investment Management LP grew its stake in shares of Lear by 9.7% in the 1st quarter. ARGA Investment Management LP now owns 653,320 shares of the auto parts company's stock worth $57,636,000 after acquiring an additional 57,705 shares in the last quarter. Institutional investors own 97.04% of the company's stock.

Insider Buying and Selling at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total transaction of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares in the company, valued at $1,993,426.68. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the transaction, the chief executive officer owned 38,729 shares in the company, valued at $3,747,805.33. The trade was a 11.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,187 shares of company stock worth $1,086,425 over the last ninety days. Insiders own 0.91% of the company's stock.

Lear Stock Up 5.2%

LEA stock opened at $108.4470 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The company's 50 day moving average is $99.83 and its 200 day moving average is $93.52. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $119.10.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.24. The company had revenue of $6.03 billion for the quarter, compared to analysts' expectations of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. Lear's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. Sell-side analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, September 3rd. Lear's dividend payout ratio (DPR) is presently 35.94%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley reduced 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. Wall Street Zen downgraded shares of Lear from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup boosted their price target on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 30th. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Bank of America boosted their price target on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $113.00.

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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