Inceptionr LLC Purchases New Shares in Lear Corporation $LEA

Inceptionr LLC purchased a new position in shares of Lear Corporation (NYSE:LEA) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,790 shares of the auto parts company’s stock, valued at approximately $459,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEA. Dimensional Fund Advisors LP grew its stake in shares of Lear by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,943,480 shares of the auto parts company’s stock valued at $356,380,000 after purchasing an additional 107,678 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Lear by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 1,830,466 shares of the auto parts company’s stock valued at $212,938,000 after acquiring an additional 5,409 shares during the period. M&T Bank Corp boosted its holdings in Lear by 46,707.8% in the fourth quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock valued at $109,054,000 after acquiring an additional 949,569 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Lear by 7.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 791,293 shares of the auto parts company’s stock worth $90,682,000 after purchasing an additional 57,206 shares during the period. Finally, AQR Capital Management LLC increased its position in Lear by 34.1% in the fourth quarter. AQR Capital Management LLC now owns 789,745 shares of the auto parts company’s stock worth $90,505,000 after purchasing an additional 200,617 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Performance

Shares of NYSE:LEA opened at $143.65 on Monday. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.69 and a beta of 1.25. The firm’s 50 day simple moving average is $139.11 and its 200 day simple moving average is $130.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. Lear Corporation has a fifty-two week low of $91.67 and a fifty-two week high of $150.33.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the firm earned $3.12 EPS. Lear’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Lear Corporation will post 14.81 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is currently 30.80%.

Key Stories Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analysts say Lear Corporation (LEA) has the ingredients for a potential earnings beat in its upcoming quarterly report, which could support the stock if results and guidance come in better than expected. Article: Lear (LEA) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: A separate article highlights Lear Corporation (LEA) as a top value stock for the long term, which may be helping investor sentiment amid its relatively low valuation metrics versus earnings growth expectations. Article: Why Lear (LEA) is a top value stock for the long term
• Neutral Sentiment: Several other items in the feed were unrelated to Lear Corporation or did not include company-specific news, so they are unlikely to be a direct driver of LEA trading today.

Insider Activity

In related news, CEO Raymond E. Scott sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total value of $6,768,500.00. Following the completion of the sale, the chief executive officer owned 49,789 shares in the company, valued at $6,739,936.93. This represents a 50.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. The trade was a 27.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,026 shares of company stock worth $8,498,248 over the last quarter. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LEA shares. UBS Group reduced their target price on shares of Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley set a $130.00 price target on shares of Lear in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a report on Monday, May 4th. Finally, Citigroup increased their price target on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $144.62.

Lear Company 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.