Sequoia Financial Advisors LLC Acquires Shares of 5,309 Lear Corporation $LEA

Key Points

• Sequoia Financial Advisors LLC has acquired a new stake of 5,309 shares in Lear Corporation, valued at approximately $504,000, during the second quarter.
• Lear Corporation's CFO and CEO both sold 5,000 shares each of the company's stock recently, resulting in a decrease in their ownership stakes by 19.81% and 11.43%, respectively.
• Finally, Lear last reported earnings showing an EPS of $3.47, exceeding analysts' expectations and highlighting a 0.3% year-over-year revenue increase to $6.03 billion for the quarter.

Sequoia Financial Advisors LLC acquired a new stake in Lear Corporation (NYSE:LEA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,309 shares of the auto parts company's stock, valued at approximately $504,000.

Several other institutional investors also recently bought and sold shares of the business. Hunter Perkins Capital Management LLC grew its holdings in Lear by 0.8% in the second quarter. Hunter Perkins Capital Management LLC now owns 13,846 shares of the auto parts company's stock valued at $1,315,000 after purchasing an additional 107 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Lear by 2.0% in the second quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company's stock worth $585,000 after acquiring an additional 121 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Lear by 2.6% in the second quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company's stock worth $661,000 after acquiring an additional 176 shares during the last quarter. Entropy Technologies LP boosted its stake in shares of Lear by 2.3% in the first quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company's stock worth $947,000 after acquiring an additional 244 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Lear by 7.6% in the first quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company's stock worth $317,000 after acquiring an additional 255 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the sale, the chief executive officer directly owned 38,729 shares of the company's stock, 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. 0.91% of the stock is owned by insiders.

Lear Price Performance

NYSE:LEA opened at $99.19 on Tuesday. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $113.10. 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 company has a market capitalization of $5.28 billion, a P/E ratio of 11.57, a P/E/G ratio of 0.79 and a beta of 1.32. The stock's fifty day moving average is $104.36 and its two-hundred day moving average is $96.45.

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

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were given a $0.77 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.1%. Lear's payout ratio is currently 35.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LEA shares. Citigroup reaffirmed a "neutral" rating on shares of Lear in a research note on Tuesday, October 14th. Barclays lifted their price objective on Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Lear from $119.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday. Wells Fargo & Company reduced their price objective on Lear from $113.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Friday, October 3rd. Finally, Wall Street Zen upgraded Lear from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, Lear presently has a consensus rating of "Hold" and an average price target of $115.00.

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.

Want to see what other hedge funds are holding LEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lear Corporation (NYSE:LEA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.