Lear Corporation $LEA Stake Boosted by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Lear Corporation (NYSE:LEA) by 220.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258,063 shares of the auto parts company’s stock after buying an additional 177,632 shares during the period. Pacer Advisors Inc. owned about 0.51% of Lear worth $29,574,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Lear in the fourth quarter worth approximately $25,000. WealthCollab LLC purchased a new stake in shares of Lear in the 2nd quarter valued at approximately $28,000. Los Angeles Capital Management LLC acquired a new position in Lear in the 4th quarter worth approximately $30,000. Allworth Financial LP boosted its stake in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the period. Finally, Global Retirement Partners LLC grew its position in Lear by 942.3% during the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 245 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lear

In other news, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $141.38, for a total value of $330,263.68. Following the transaction, 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 transaction 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 dated 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 represents a 10.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,026 shares of company stock valued at $1,729,748. Corporate insiders own 1.02% of the company’s stock.

Lear Price Performance

LEA opened at $140.00 on Friday. The stock has a fifty day moving average price of $135.26 and a 200 day moving average price of $126.34. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Lear Corporation has a 1 year low of $89.29 and a 1 year high of $150.33. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.71 and a beta of 1.23.

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

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.2%. Lear’s dividend payout ratio is 30.80%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LEA. Wells Fargo & Company increased their target price on Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Bank of America initiated coverage on Lear in a report on Wednesday, March 4th. They set a “neutral” rating on the stock. TD Cowen raised Lear from a “hold” rating to a “buy” rating and upped their price target for the company from $138.00 to $165.00 in a research report on Tuesday, May 26th. The Goldman Sachs Group increased their price objective on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Lear presently has an average rating of “Hold” and an average price target of $143.08.

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.