Access Investment Management LLC Takes Position in Lear Corporation $LEA

Access Investment Management LLC purchased a new position in Lear Corporation (NYSE:LEA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,000 shares of the auto parts company’s stock, valued at approximately $475,000.

Several other large investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in Lear by 1,384.2% in the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Lear in the first quarter valued at approximately $39,000. Bessemer Group Inc. raised its holdings in shares of Lear by 100.0% during the second quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock valued at $43,000 after buying an additional 227 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after buying an additional 344 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in Lear by 2,682.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after acquiring an additional 939 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. The Goldman Sachs Group set a $104.00 target price on shares of Lear in a research note on Monday, September 29th. JPMorgan Chase & Co. upped their price target on shares of Lear from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. UBS Group dropped their target price on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Lear in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.00.

Lear Trading Up 1.0%

Shares of LEA opened at $104.60 on Monday. The business’s 50-day moving average price is $104.20 and its 200 day moving average price is $98.11. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $113.10. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5.57 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.82 and a beta of 1.32.

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

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s dividend payout ratio is 35.94%.

Lear 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.