Sei Investments Co. Buys 39,422 Shares of Lear Corporation $LEA

Sei Investments Co. grew its stake in shares of Lear Corporation (NYSE:LEA) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,084 shares of the auto parts company’s stock after acquiring an additional 39,422 shares during the period. Sei Investments Co.’s holdings in Lear were worth $21,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc increased its position in Lear by 33.1% during the 4th quarter. Impax Asset Management Group plc now owns 17,264 shares of the auto parts company’s stock worth $1,978,000 after buying an additional 4,293 shares during the period. Life Cycle Investment Partners Ltd bought a new stake in shares of Lear in the fourth quarter valued at about $22,539,000. Convergence Investment Partners LLC boosted its position in shares of Lear by 154.6% in the fourth quarter. Convergence Investment Partners LLC now owns 24,720 shares of the auto parts company’s stock valued at $2,833,000 after acquiring an additional 15,010 shares during the period. Leuthold Group LLC grew its stake in shares of Lear by 41.5% in the fourth quarter. Leuthold Group LLC now owns 47,513 shares of the auto parts company’s stock valued at $5,445,000 after acquiring an additional 13,937 shares in the last quarter. Finally, Norges Bank bought a new position in Lear during the fourth quarter worth about $82,016,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insider Activity

In other news, CEO Raymond E. Scott sold 50,000 shares of Lear stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the transaction, the chief executive officer owned 49,789 shares in the company, valued at approximately $6,739,936.93. This trade represents a 50.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,026 shares of company stock valued at $8,498,248 in the last three months. Company insiders own 1.02% of the company’s stock.

Lear Trading Up 2.4%

Shares of Lear stock opened at $148.49 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.33 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 company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.70 and a beta of 1.25. The firm’s 50-day moving average price is $139.81 and its two-hundred day moving average price is $130.81.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company 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 company earned $3.12 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts forecast that Lear Corporation will post 14.81 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is 30.80%.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Vehicle-technology exposure highlighted: Zacks named Lear one of three automotive-equipment stocks positioned to benefit as vehicle technology evolves, citing its advanced seating systems and role in future mobility. This reinforces the investment case for Lear’s content growth in increasingly sophisticated vehicles. 3 Automotive Equipment Stocks to Buy as Vehicle Tech Evolves
• Positive Sentiment: Growth-stock rationale remains constructive: A separate Zacks analysis identified three reasons Lear could deliver strong returns, pointing to its growth attributes. The commentary may support continued investor interest following Lear’s recent earnings beat and year-over-year revenue growth. Looking for a Growth Stock? 3 Reasons Why Lear (LEA) is a Solid Choice
• Neutral Sentiment: Peer-performance comparison: Zacks compared Lear with Visteon and the broader auto, tires and trucks group. The article may influence sector-focused investors, but the supplied headline does not provide enough detail to determine whether Lear is outperforming or lagging its peers. Is Lear Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of Lear from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Royal Bank Of Canada raised their target price on shares of Lear from $138.00 to $143.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. JPMorgan Chase & Co. lifted their price target on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Morgan Stanley set a $130.00 price target on Lear in a research report on Monday, May 4th. Finally, TD Cowen upgraded Lear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lear has a consensus rating of “Hold” and a consensus price target 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.