29,747 Shares in Lear Corporation $LEA Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Lear Corporation (NYSE:LEA) in the second quarter, HoldingsChannel.com reports. The firm bought 29,747 shares of the auto parts company’s stock, valued at approximately $3,988,000.

A number of other institutional investors also recently modified their holdings of LEA. Altshuler Shaham Ltd acquired a new position in Lear during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in shares of Lear during the 4th quarter worth approximately $30,000. Global Retirement Partners LLC raised its holdings in shares of Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. WealthCollab LLC acquired a new stake in shares of Lear in the second quarter valued at approximately $28,000. Finally, Allworth Financial LP lifted its position in shares of Lear by 62.6% in the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LEA shares. Royal Bank Of Canada lifted their price target on shares of Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Barclays upped their target price on Lear from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $140.00 price target on shares of Lear in a research report on Saturday, August 1st. Finally, TD Cowen upgraded 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 note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Lear presently has an average rating of “Hold” and an average target price of $145.23.

Lear Stock Up 1.1%

Shares of LEA stock opened at $131.05 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31. The firm’s 50-day moving average is $131.51 and its 200-day moving average is $130.80. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.79 and a beta of 1.26. Lear Corporation has a 52-week low of $96.04 and a 52-week high of $150.33.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.30. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.15 billion. Lear had a return on equity of 14.18% and a net margin of 2.35%.The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.06 earnings per share. Sell-side analysts predict that Lear Corporation will post 14.86 EPS for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. Lear’s dividend payout ratio is 28.70%.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,646 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $121.35, for a total transaction of $199,742.10. Following the completion of the sale, the director owned 37 shares of the company’s stock, valued at $4,489.95. This trade represents a 97.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Raymond 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 transaction of $6,768,500.00. Following the transaction, the chief executive officer directly owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. This trade represents a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 51,836 shares of company stock worth $6,995,097. 1.02% of the stock is owned by company insiders.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Brokerages have assigned Lear an average price target of $145.23, implying meaningful upside from the stock’s recent trading level near $131. This supports the view that analysts see value in Lear’s automotive seating and E-Systems businesses. Lear Corporation Receives $145.23 Average Price Target from Brokerages
• Neutral Sentiment: Lear will participate in a fireside chat at Morgan Stanley’s 14th Annual Laguna Conference on September 16. The event may give investors additional insight into demand trends, margins, restructuring, and electrification strategy, but the announcement itself provided no new financial information. Lear to Participate in Morgan Stanley 14th Annual Laguna Conference

About Lear

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.