3,759 Shares in Lear Corporation $LEA Purchased by Perbak Capital Partners LLP

Key Points

• Perbak Capital Partners LLP has acquired a new stake in Lear Corporation worth approximately $332,000, buying 3,759 shares of the auto parts company's stock in the 1st quarter.
• Insider transactions show significant selling activity, with CFO Jason M. Cardew and CEO Raymond E. Scott each selling 5,000 shares, resulting in decreases of 19.81% and 11.43% in their positions, respectively.
• Analysts remain optimistic, with several firms raising their price targets for Lear Corporation, resulting in a consensus rating of "Hold" and a price target of $113.00.

Perbak Capital Partners LLP acquired a new stake in shares of Lear Corporation (NYSE:LEA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,759 shares of the auto parts company's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Lear by 2.5% during the first quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company's stock valued at $587,315,000 after buying an additional 165,494 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lear by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,631,477 shares of the auto parts company's stock worth $232,145,000 after purchasing an additional 17,250 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lear by 6.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company's stock worth $208,052,000 after purchasing an additional 145,751 shares during the period. Lyrical Asset Management LP boosted its holdings in shares of Lear by 0.3% during the first quarter. Lyrical Asset Management LP now owns 1,060,216 shares of the auto parts company's stock worth $93,532,000 after purchasing an additional 3,522 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lear by 26.3% during the fourth 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 during the period. 97.04% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Jason M. Cardew sold 5,000 shares of the business's 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 completion of the sale, the chief financial officer directly owned 20,244 shares in the company, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business's stock in a transaction that occurred on 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 owned 84 shares of the company's stock, valued at $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,187 shares of company stock valued at $1,086,425 in the last 90 days. 0.91% of the stock is currently owned by insiders.

Lear Stock Up 0.6%

Shares of NYSE:LEA traded up $0.66 during trading on Friday, reaching $111.03. 388,099 shares of the stock traded hands, compared to its average volume of 487,893. The stock has a 50-day moving average of $103.38 and a two-hundred day moving average of $94.47. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $115.47. 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 stock has a market cap of $5.91 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34.

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

Lear Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Morgan Stanley decreased their price target 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. UBS Group decreased their price target 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. Barclays increased their price target on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Bank of America increased their price target on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.