Lear Corporation $LEA Holdings Boosted by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Lear Corporation by 34.4% during the 1st quarter, owning 45,690 shares worth $4.03 million post-purchase.
• The company reported a quarterly earnings of $3.47 per share, exceeding analysts' expectations, with revenue reaching $6.03 billion for the quarter.
• Lear Corporation announced a quarterly dividend of $0.77 per share, translating to an annualized dividend yield of 2.9%.

Voya Investment Management LLC increased its position in shares of Lear Corporation (NYSE:LEA - Free Report) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,690 shares of the auto parts company's stock after acquiring an additional 11,696 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Lear worth $4,031,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its stake in Lear by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock valued at $599,000 after purchasing an additional 152 shares during the last quarter. Wellington Management Group LLP grew its holdings in Lear by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company's stock valued at $351,000 after buying an additional 183 shares during the period. Entropy Technologies LP grew its holdings in Lear by 2.3% in the 1st quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company's stock valued at $947,000 after buying an additional 244 shares during the period. TD Private Client Wealth LLC boosted its position 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. Finally, Cetera Investment Advisers boosted its position in shares of Lear by 7.8% in the first quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company's stock worth $315,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company's stock.

Lear Stock Up 1.2%

LEA stock traded up $1.25 during trading on Tuesday, reaching $104.32. The stock had a trading volume of 40,801 shares, compared to its average volume of 698,893. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $115.47. The company has a market capitalization of $5.55 billion, a P/E ratio of 12.17, a PEG ratio of 0.82 and a beta of 1.33. 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 firm has a fifty day moving average price of $104.08 and a 200 day moving average price of $95.34.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.89 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.Lear's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $3.60 EPS. Lear has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.08 annualized dividend and a yield of 3.0%. Lear's dividend payout ratio is currently 35.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Lear from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays boosted their price target on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. UBS Group lowered their price target on Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Citigroup lifted their price objective on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Bank of America lowered shares of Lear from a "buy" rating to a "neutral" rating and cut their price target for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.70.

Insider Buying and Selling at Lear

In related news, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief executive officer directly owned 38,729 shares in the company, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction dated Tuesday, July 29th. The stock was 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 owned 20,244 shares of the company's stock, valued at $1,993,426.68. This trade represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company's stock.

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.