Caisse DE Depot ET Placement DU Quebec Acquires New Holdings in Lear Corporation $LEA

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Lear Corporation (NYSE:LEA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,629 shares of the auto parts company’s stock, valued at approximately $2,879,000. Caisse DE Depot ET Placement DU Quebec owned about 0.06% of Lear at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in shares of Lear by 80.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,841 shares of the auto parts company’s stock valued at $269,000 after purchasing an additional 1,263 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Lear by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,717 shares of the auto parts company’s stock valued at $3,288,000 after purchasing an additional 933 shares during the last quarter. Northern Trust Corp grew its position in shares of Lear by 27.8% in the fourth quarter. Northern Trust Corp now owns 500,508 shares of the auto parts company’s stock valued at $47,398,000 after purchasing an additional 108,756 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Lear by 38.9% in the fourth quarter. AQR Capital Management LLC now owns 97,239 shares of the auto parts company’s stock valued at $9,209,000 after purchasing an additional 27,213 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Lear by 195.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 107,480 shares of the auto parts company’s stock valued at $10,178,000 after purchasing an additional 71,074 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Insider Transactions at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total transaction of $492,350.00. Following the completion of the sale, the chief financial officer owned 20,244 shares of the company’s stock, valued at approximately $1,993,426.68. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the sale, the chief executive officer directly owned 38,729 shares of the company’s stock, valued at $3,747,805.33. The trade was a 11.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,187 shares of company stock valued at $1,086,425. 0.91% of the stock is currently owned by corporate insiders.

Lear Trading Down 0.4%

NYSE LEA opened at $109.59 on Friday. Lear Corporation has a one year low of $73.85 and a one year high of $117.33. The company’s 50 day moving average price is $101.30 and its 200 day moving average price is $93.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.67 and a beta of 1.30.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same quarter last year, the firm posted $3.60 earnings per share. Lear’s revenue for the quarter was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.8%. Lear’s dividend payout ratio (DPR) is presently 35.94%.

Analysts Set New Price Targets

Several research firms have recently commented on LEA. The Goldman Sachs Group set a $88.00 price target on shares of Lear and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Bank of America raised their price target on shares of Lear from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Barclays raised their price target on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on shares of Lear from $100.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.00.

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.