Lear Corporation $LEA Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in Lear Corporation (NYSE:LEA) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,276 shares of the auto parts company’s stock after selling 22,456 shares during the period. Legal & General Group Plc owned approximately 0.19% of Lear worth $11,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Lear by 23.6% during the 3rd quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock worth $157,891,000 after acquiring an additional 299,841 shares in the last quarter. Oldfield Partners LLP lifted its stake in Lear by 5.5% during the 4th quarter. Oldfield Partners LLP now owns 644,286 shares of the auto parts company’s stock worth $73,835,000 after acquiring an additional 33,313 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Lear during the 3rd quarter worth about $1,420,000. Diamond Hill Capital Management Inc. lifted its stake in Lear by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 493,359 shares of the auto parts company’s stock worth $49,637,000 after acquiring an additional 18,507 shares in the last quarter. Finally, GenTrust LLC acquired a new position in Lear during the 3rd quarter worth about $934,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Negative Sentiment: Lear’s CFO sold 5,000 shares at $147.50 on June 2, reducing his ownership and potentially pressuring sentiment around the stock. SEC filing for June 2 insider sale
• Negative Sentiment: He also sold 4,500 shares at $141.14 on June 1, adding to concerns that management may see limited near-term upside after the recent run-up. SEC filing for June 1 insider sale
• Neutral Sentiment: A recent valuation-focused article highlighted Lear’s pullback and suggested investors are reassessing the stock’s pricing after its strong year-to-date move. Yahoo Finance article on Lear valuation

Insider Buying and Selling

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares in the company, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the transaction, the senior vice president owned 2,339 shares in the company, valued at $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,880 shares of company stock worth $1,708,003 in the last 90 days. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LEA. Royal Bank Of Canada increased their target price on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lear in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Morgan Stanley set a $130.00 price target on Lear in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $143.08.

Lear Trading Down 1.5%

NYSE:LEA opened at $145.11 on Thursday. The stock’s 50 day moving average price is $129.91 and its 200 day moving average price is $123.32. The company has a market capitalization of $7.27 billion, a PE ratio of 14.51, a P/E/G ratio of 0.75 and a beta of 1.23. 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 52-week low of $86.14 and a 52-week high of $150.33.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.12 EPS. On average, research analysts anticipate that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

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

Lear Company 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.