Edgestream Partners L.P. Makes New Investment in Lear Corporation $LEA

Edgestream Partners L.P. acquired a new position in shares of Lear Corporation (NYSE:LEA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 46,726 shares of the auto parts company’s stock, valued at approximately $5,658,000.

Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in Lear during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Lear during the fourth quarter worth about $30,000. Global Retirement Partners LLC boosted its position in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after buying an additional 245 shares during the last quarter. WealthCollab LLC acquired a new position in Lear in the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP lifted its stake in Lear by 62.6% during the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Analysts expect second-quarter earnings per share of approximately $3.98 on revenue of $6.15 billion. The projected revenue increase from the year-ago period suggests continued demand for Lear’s automotive seating and electrical systems businesses. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: The earnings release is expected to provide updates on margins, vehicle-production trends, supply-chain conditions, cash flow and full-year guidance. Analysts’ forecast revisions ahead of the report indicate heightened attention, but the available coverage does not identify a clear change in the consensus outlook. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Negative Sentiment: Because Lear is trading close to its 52-week high, expectations for the results and outlook are elevated. Any revenue shortfall, weaker profitability or cautious guidance could trigger profit-taking, explaining the pre-earnings pressure despite the company’s previous quarterly EPS beat. Lear Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Insider Activity at Lear

In other Lear news, Director Conrad L. Mallett, Jr. sold 190 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $141.34, for a total transaction of $26,854.60. Following the transaction, the director directly owned 1,683 shares of the company’s stock, valued at $237,875.22. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the transaction, the chief financial officer owned 13,241 shares of the company’s stock, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,026 shares of company stock valued at $8,498,248. Insiders own 1.02% of the company’s stock.

Lear Stock Performance

Shares of LEA stock opened at $146.01 on Friday. 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 Corporation has a 12-month low of $91.67 and a 12-month high of $150.33. The business’s 50 day moving average is $140.25 and its two-hundred day moving average is $131.12. The company has a market capitalization of $7.31 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.71 and a beta of 1.25.

Lear (NYSE:LEA) last posted its quarterly earnings data 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. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the business earned $3.12 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Lear Corporation will post 14.81 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s payout ratio is presently 30.80%.

Wall Street Analyst Weigh In

LEA has been the subject of several recent research reports. TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and raised their target price for the stock from $138.00 to $165.00 in a report on Tuesday, May 26th. Morgan Stanley set a $130.00 price objective on Lear in a research note on Monday, May 4th. Weiss Ratings upgraded Lear from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group boosted their price target on Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, UBS Group dropped their price objective 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. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $144.62.

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.