Leonteq Securities AG Buys New Stake in Lear Corporation $LEA

Leonteq Securities AG bought a new stake in Lear Corporation (NYSE:LEA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,769 shares of the auto parts company’s stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc lifted its stake in Lear by 62.7% in the 4th quarter. IFP Advisors Inc now owns 524 shares of the auto parts company’s stock valued at $60,000 after buying an additional 202 shares in the last quarter. Covestor Ltd lifted its stake in shares of Lear by 14.3% during the 4th quarter. Covestor Ltd now owns 2,483 shares of the auto parts company’s stock worth $284,000 after purchasing an additional 311 shares during the period. HighTower Advisors LLC lifted its stake in shares of Lear by 14.4% during the 4th quarter. HighTower Advisors LLC now owns 4,211 shares of the auto parts company’s stock worth $483,000 after purchasing an additional 530 shares during the period. North Dakota State Investment Board purchased a new position in shares of Lear during the 4th quarter worth $215,000. Finally, Abacus Wealth Partners LLC purchased a new position in shares of Lear during the 4th quarter worth $268,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Trading Up 0.9%

Shares of LEA opened at $139.73 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. The firm has a market capitalization of $7.00 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 0.70 and a beta of 1.21. The stock’s fifty day simple moving average is $125.37 and its 200 day simple moving average is $121.21. Lear Corporation has a twelve month low of $86.14 and a twelve month high of $142.84.

Lear (NYSE:LEA) last issued its earnings results 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. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.12 EPS. On average, equities research analysts forecast that Lear Corporation will post 14.61 earnings per share for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is 30.80%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LEA shares. The Goldman Sachs Group increased their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Citigroup increased their price target on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Barclays increased their price target on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Morgan Stanley set a $130.00 price target on Lear in a research note on Monday, May 4th. Finally, Royal Bank Of Canada increased their price target on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.54.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlighted Lear (LEA) as a top-ranked growth stock, which may draw in growth-oriented investors and support the shares. Lear (LEA) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Recent articles about saunas, red light therapy, crypto regulation, and other unrelated topics do not appear to affect Lear’s shares. The health benefits of saunas: backed by research and experts
• Neutral Sentiment: Lear’s latest reported results showed EPS ahead of expectations and revenue growth, helping reinforce the stock’s positive momentum, though this was from an earlier earnings release rather than a new catalyst today.

Insider Buying and Selling at Lear

In related news, VP Marianne Vidershain sold 1,590 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total value of $214,650.00. Following the transaction, the vice president directly owned 1,862 shares of the company’s stock, valued at approximately $251,370. This trade represents a 46.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.02% of the company’s stock.

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.