Pacer Advisors Inc. Has $711,000 Stock Position in Lear Corporation $LEA

Pacer Advisors Inc. cut its stake in Lear Corporation (NYSE:LEA) by 97.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,870 shares of the auto parts company’s stock after selling 252,193 shares during the period. Pacer Advisors Inc.’s holdings in Lear were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of Lear by 5,205.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after acquiring an additional 7,131 shares during the last quarter. United Services Automobile Association acquired a new position in Lear in the 1st quarter valued at $267,000. Empowered Funds LLC acquired a new stake in shares of Lear during the first quarter worth $256,000. EverSource Wealth Advisors LLC raised its position in shares of Lear by 37.1% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock valued at $92,000 after buying an additional 262 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Lear by 9.5% in the 2nd quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock valued at $408,000 after acquiring an additional 372 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Insider Activity at Lear

In related news, SVP Nicholas Jon Roelli sold 2,336 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the completion of the sale, the senior vice president directly owned 2,339 shares in the company, valued at approximately $330,687.82. The trade was a 49.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Raymond E. Scott sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 63,672 shares of company stock worth $8,697,990. Company insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $130.00 price target on shares of Lear in a report on Monday, May 4th. BNP Paribas Exane downgraded Lear from an “outperform” rating to a “neutral” rating in a report on Monday, August 3rd. Citigroup increased their price target on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company lifted their price target on Lear from $137.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and raised their price target for the company from $138.00 to $165.00 in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $145.23.

Lear Stock Performance

Lear stock opened at $120.78 on Tuesday. The firm has a market cap of $5.96 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.59 and a beta of 1.25. Lear Corporation has a 1-year low of $95.35 and a 1-year high of $150.33. The firm has a 50-day moving average of $137.59 and a 200-day moving average of $131.19. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the previous year, the company earned $3.06 earnings per share. Lear’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts expect that Lear Corporation will post 14.84 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is presently 28.70%.

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.