Lear Corporation $LEA Shares Acquired by RWC Asset Management LLP

RWC Asset Management LLP raised its holdings in Lear Corporation (NYSE:LEA) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 589,753 shares of the auto parts company’s stock after acquiring an additional 19,705 shares during the quarter. Lear comprises approximately 3.3% of RWC Asset Management LLP’s investment portfolio, making the stock its 4th largest holding. RWC Asset Management LLP’s holdings in Lear were worth $67,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEA. Jones Financial Companies Lllp raised its holdings in Lear by 5,205.1% in the first quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock valued at $604,000 after acquiring an additional 7,131 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Lear in the 1st quarter valued at approximately $267,000. Empowered Funds LLC purchased a new stake in shares of Lear in the 1st quarter valued at approximately $256,000. EverSource Wealth Advisors LLC increased its position in shares of Lear by 37.1% in 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% in 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. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LEA shares. The Goldman Sachs Group increased their price objective on shares of Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Benchmark started coverage on shares of Lear in a research report on Thursday, February 19th. They issued a “buy” rating and a $170.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Lear in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Company increased their price objective on shares of Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and an average target price of $143.08.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s most recent earnings report beat EPS expectations and showed year-over-year revenue growth, reinforcing the view that fundamentals are improving and helping support the stock near its highs.
• Positive Sentiment: The company recently declared a quarterly dividend of $0.77 per share, signaling ongoing cash generation and shareholder returns, which can support investor confidence.
• Neutral Sentiment: Lear announced it will participate in a Wolfe Research Autos and Mobility Conference on June 18. This is an investor-relations event and may draw attention to the stock, but it does not change fundamentals by itself. Article Title: Lear to Participate in Wolfe Research Autos and Mobility Conference
• Neutral Sentiment: Insider selling by CFO Jason Cardew was disclosed, but the sale was relatively small versus his remaining holdings, so it is more of a cautionary signal than a major red flag.
• Negative Sentiment: The CFO’s share sale could create some short-term caution after the stock’s strong run, as some investors may wonder whether insider confidence is limited at current levels.

Lear Trading Down 0.1%

NYSE LEA opened at $141.29 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The firm’s fifty day moving average price is $130.77 and its 200 day moving average price is $123.87. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.23. Lear Corporation has a 12 month low of $88.04 and a 12 month high of $150.33.

Lear (NYSE:LEA) last posted its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.12 EPS. On average, sell-side analysts expect that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is 30.80%.

Insiders Place Their Bets

In related news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at $1,953,047.50. This trade represents a 27.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nicholas Jon Roelli sold 2,336 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the completion of the transaction, the senior vice president directly owned 2,339 shares in the company, valued at $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,880 shares of company stock worth $1,708,003 over the last ninety days. Insiders own 1.02% of the company’s stock.

About Lear

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.