Sequoia Financial Advisors LLC Takes Position in Lear Corporation $LEA

Sequoia Financial Advisors LLC acquired a new stake in Lear Corporation (NYSE:LEA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,309 shares of the auto parts company’s stock, valued at approximately $504,000.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after buying an additional 263 shares in the last quarter. WPG Advisers LLC acquired a new position in Lear during the 1st quarter worth $39,000. GAMMA Investing LLC grew its stake in Lear by 57.9% during the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 344 shares in the last quarter. Bayforest Capital Ltd grew its stake in Lear by 955.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Lear by 486.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the auto parts company’s stock worth $149,000 after purchasing an additional 1,397 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Trading Down 0.3%

NYSE:LEA opened at $99.19 on Tuesday. The stock has a 50-day simple moving average of $104.36 and a 200-day simple moving average of $96.45. The stock has a market cap 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. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the prior year, the firm posted $3.60 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s payout ratio is presently 35.94%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays boosted their target price on Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. UBS Group lowered their target price on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. The Goldman Sachs Group set a $104.00 target price on Lear in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Lear from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.00.

Insider Activity

In other news, CFO Jason M. Cardew sold 5,000 shares of the business’s 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 sale, the chief financial officer directly owned 20,244 shares of the company’s stock, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This represents 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 currently owned by insiders.

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.