Russell Investments Group Ltd. Sells 26,339 Shares of Lear Corporation $LEA

Key Points

• Russell Investments Group Ltd. reduced its stake in Lear Corporation by 5.7%, now holding 437,128 shares valued at approximately $38.56 million.
• Insider transactions include both the CFO and CEO selling 5,000 shares each, leading to a significant decrease in their ownership percentages.
• Wall Street analysts have mixed outlooks on Lear's stock, with price target adjustments ranging from $88.00 to $120.00 and a consensus rating of "Hold."

Russell Investments Group Ltd. lowered its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,128 shares of the auto parts company's stock after selling 26,339 shares during the quarter. Russell Investments Group Ltd. owned 0.82% of Lear worth $38,564,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LEA. Dimensional Fund Advisors LP lifted its position 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 worth $247,566,000 after buying an additional 283,838 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lear by 88.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the auto parts company's stock worth $640,000 after purchasing an additional 3,409 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Lear by 62.3% in the 1st quarter. State of Alaska Department of Revenue now owns 26,283 shares of the auto parts company's stock worth $2,318,000 after purchasing an additional 10,085 shares during the period. Eagle Global Advisors LLC grew its holdings in Lear by 11.5% during the first quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company's stock valued at $6,663,000 after purchasing an additional 7,800 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Lear by 34.9% during the first quarter. Harbor Capital Advisors Inc. now owns 39,622 shares of the auto parts company's stock valued at $3,495,000 after purchasing an additional 10,249 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Lear Trading Up 0.6%

Shares of LEA traded up $0.6660 during trading hours on Tuesday, hitting $103.2060. The company had a trading volume of 78,050 shares, compared to its average volume of 708,718. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $119.10. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $98.95 and its 200 day moving average price is $93.19. The firm has a market cap of $5.49 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.62 and a beta of 1.30.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 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 for the quarter, compared to analysts' expectations of $5.89 billion. During the same period in the previous year, the firm earned $3.60 EPS. The business's quarterly revenue was up .3% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. On average, research analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. Lear's dividend payout ratio is 35.94%.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were 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 directly owned 20,244 shares in the company, valued at $1,993,426.68. This trade represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the transaction, the director owned 84 shares of the company's stock, valued at approximately $7,800.24. The trade was a 93.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,187 shares of company stock valued at $1,086,425. 0.91% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on LEA. Wells Fargo & Company upped their price target on Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Bank of America boosted their price target on shares of Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, June 16th. UBS Group reduced their price objective 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. Morgan Stanley reduced their target price on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Lear currently has a consensus rating of "Hold" and an average target price of $113.00.

Lear 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.