Nordea Investment Management AB Grows Stock Position in Lear Corporation $LEA

Nordea Investment Management AB raised its position in Lear Corporation (NYSE:LEA) by 3.9% during the second quarter, HoldingsChannel.com reports. The firm owned 49,918 shares of the auto parts company’s stock after buying an additional 1,875 shares during the quarter. Nordea Investment Management AB’s holdings in Lear were worth $4,735,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LEA. Oldfield Partners LLP purchased a new position in shares of Lear in the 1st quarter worth about $53,799,000. AQR Capital Management LLC raised its holdings in shares of Lear by 483.4% in the 1st quarter. AQR Capital Management LLC now owns 567,335 shares of the auto parts company’s stock worth $49,625,000 after purchasing an additional 470,096 shares during the period. American Century Companies Inc. raised its holdings in shares of Lear by 105.7% in the 1st quarter. American Century Companies Inc. now owns 710,962 shares of the auto parts company’s stock worth $62,721,000 after purchasing an additional 365,382 shares during the period. Vanguard Group Inc. raised its holdings in shares of Lear by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock worth $587,315,000 after purchasing an additional 165,494 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Lear by 38.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 540,411 shares of the auto parts company’s stock worth $47,675,000 after purchasing an additional 149,644 shares during the period. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group set a $104.00 price objective on Lear in a report on Monday, September 29th. Bank of America downgraded Lear from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. Wells Fargo & Company lowered their target price on Lear from $113.00 to $108.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. UBS Group lowered their target price on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus price target of $115.00.

Lear Price Performance

LEA stock opened at $100.93 on Wednesday. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10. The stock has a 50-day simple moving average of $104.38 and a 200-day simple moving average of $96.48. 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 cap of $5.37 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.78 and a beta of 1.32.

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

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, September 3rd. Lear’s dividend payout ratio (DPR) is 35.94%.

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew 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 $98.47, for a total transaction of $492,350.00. Following the completion of the sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This trade represents a 19.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott 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 $96.77, for a total value of $483,850.00. Following the sale, the chief executive officer owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.

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.