Pacer Advisors Inc. Buys 177,632 Shares of Lear Corporation $LEA

Pacer Advisors Inc. grew its stake in Lear Corporation (NYSE:LEA) by 220.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,063 shares of the auto parts company’s stock after purchasing an additional 177,632 shares during the period. Pacer Advisors Inc.’s holdings in Lear were worth $29,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Compound Planning Inc. acquired a new position in shares of Lear during the fourth quarter valued at about $230,000. Invesco Ltd. grew its position in Lear by 21.2% during the fourth quarter. Invesco Ltd. now owns 408,600 shares of the auto parts company’s stock worth $46,826,000 after buying an additional 71,406 shares in the last quarter. Corient Private Wealth LLC increased its stake in Lear by 162.7% during the fourth quarter. Corient Private Wealth LLC now owns 40,601 shares of the auto parts company’s stock valued at $4,653,000 after acquiring an additional 25,145 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Lear by 16.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,688 shares of the auto parts company’s stock valued at $652,000 after acquiring an additional 812 shares during the period. Finally, Empowered Funds LLC raised its holdings in Lear by 17.4% in the 4th quarter. Empowered Funds LLC now owns 25,578 shares of the auto parts company’s stock valued at $2,931,000 after acquiring an additional 3,782 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Lear from $152.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Citigroup upped their target price on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, May 4th. The Goldman Sachs Group raised their target price on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Bank of America assumed coverage on shares of Lear in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Finally, UBS Group dropped their price objective on shares of Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $143.08.

Lear Trading Up 0.2%

LEA stock opened at $140.00 on Friday. Lear Corporation has a 1-year low of $89.29 and a 1-year high of $150.33. The firm has a market cap of $7.01 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.71 and a beta of 1.23. The business’s 50 day moving average is $135.26 and its 200-day moving average is $126.34. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.Lear’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 EPS. Equities analysts anticipate that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. Lear’s dividend payout ratio is currently 30.80%.

Insider Buying and Selling at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 190 shares of Lear stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total transaction of $26,854.60. Following the completion of the transaction, the director directly owned 1,683 shares of the company’s stock, valued at approximately $237,875.22. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the sale, the chief financial officer owned 13,241 shares in the company, valued at $1,953,047.50. This represents a 27.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,026 shares of company stock valued at $1,729,748. 1.02% of the stock is currently owned by company insiders.

Lear Profile

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.