Ensign Peak Advisors Inc Lowers Position in Lear Corporation $LEA

Ensign Peak Advisors Inc decreased its stake in shares of Lear Corporation (NYSE:LEA) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,747 shares of the auto parts company’s stock after selling 1,750 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Lear were worth $1,496,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LEA. Cetera Investment Advisers boosted its holdings in shares of Lear by 7.8% during the 1st quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company’s stock valued at $315,000 after purchasing an additional 257 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Lear by 3.0% in the first quarter. Assetmark Inc. now owns 9,497 shares of the auto parts company’s stock worth $838,000 after purchasing an additional 281 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Lear in the first quarter worth about $7,103,000. Bayforest Capital Ltd boosted its stake in Lear by 955.2% during the first quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock valued at $98,000 after buying an additional 1,003 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Lear by 26.7% during the 1st quarter. US Bancorp DE now owns 3,010 shares of the auto parts company’s stock valued at $266,000 after buying an additional 634 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Trading Down 0.5%

Shares of LEA opened at $107.77 on Friday. The company’s fifty day simple moving average is $103.25 and its 200-day simple moving average is $100.79. The company has a market cap of $5.59 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $113.10.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 EPS. Lear has set its FY 2025 guidance at EPS. As a group, analysts expect that Lear Corporation will post 12.89 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 10th. Lear’s dividend payout ratio is presently 37.65%.

Analyst Ratings Changes

LEA has been the topic of several recent research reports. The Goldman Sachs Group set a $104.00 price objective on Lear in a report on Monday, September 29th. Citigroup reaffirmed a “neutral” rating on shares of Lear in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. TD Cowen boosted their target price on shares of Lear from $115.00 to $117.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $119.60.

About Lear

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.