Royce & Associates LP Sells 12,341 Shares of Lear Corporation $LEA

Key Points

• Royce & Associates LP cut its Lear stake by 12.5% in the fourth quarter, selling 12,341 shares and leaving it with 86,617 shares valued at about $9.93 million.
• Lear’s latest quarterly results were stronger than expected, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year to $5.82 billion.
• The company also declared a quarterly dividend of $0.77 per share, while analysts currently rate the stock around Hold with an average price target of $143.08.

Royce & Associates LP decreased its position in Lear Corporation (NYSE:LEA - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,617 shares of the auto parts company's stock after selling 12,341 shares during the quarter. Royce & Associates LP owned 0.17% of Lear worth $9,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of LEA. Jones Financial Companies Lllp increased its position in shares of Lear by 5,205.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company's stock valued at $604,000 after purchasing an additional 7,131 shares during the last quarter. United Services Automobile Association bought a new position in shares of Lear during the 1st quarter valued at approximately $267,000. Empowered Funds LLC bought a new position in shares of Lear during the 1st quarter valued at approximately $256,000. EverSource Wealth Advisors LLC increased its position in shares of Lear by 37.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company's stock valued at $92,000 after purchasing an additional 262 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Lear by 9.5% during the 2nd quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company's stock valued at $408,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 97.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LEA shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Lear in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on Lear from $126.00 to $133.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on Lear in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Lear from $152.00 to $153.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Finally, Bank of America initiated coverage on Lear in a report on Wednesday, March 4th. They set a "neutral" rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $143.08.

Insider Transactions at Lear

In other Lear news, SVP Nicholas Jon Roelli sold 2,336 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the transaction, the senior vice president directly owned 2,339 shares in the company, valued at $330,687.82. This represents a 49.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is currently owned by insiders.

Lear Price Performance

LEA opened at $145.83 on Thursday. The business has a fifty day moving average of $127.03 and a 200 day moving average of $122.04. Lear Corporation has a 52-week low of $86.14 and a 52-week high of $149.16. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.31 billion, a P/E ratio of 14.58, a PEG ratio of 0.73 and a beta of 1.21.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.84 billion. During the same quarter in the previous year, the business earned $3.12 EPS. Lear's revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. Lear's dividend payout ratio is currently 30.80%.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s most recent quarterly results were better than expected, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year. That reinforces confidence in the auto parts maker’s fundamentals and helps support the stock.
• Positive Sentiment: The company also recently announced a quarterly dividend of $0.77 per share, signaling ongoing cash generation and shareholder returns.
• Neutral Sentiment: TD Cowen upgraded Lear from hold to buy and raised its price target to $165, which may be adding to bullish sentiment.
• Neutral Sentiment: SVP Nicholas Jon Roelli sold 2,336 shares at an average price of $141.38, trimming his stake by about 50%. The sale is relatively small in the context of Lear’s market capitalization, so it may be seen as routine rather than a major warning sign. SEC filing
• Neutral Sentiment: Several other headlines in the feed were unrelated education and learning articles, and do not appear to have a meaningful impact on LEA shares.

Lear Profile

Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

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