Geode Capital Management LLC Lowers Holdings in Lear Corporation $LEA

Geode Capital Management LLC decreased its holdings in Lear Corporation (NYSE:LEA) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,205,959 shares of the auto parts company’s stock after selling 12,130 shares during the period. Geode Capital Management LLC’s holdings in Lear were worth $138,235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in shares of Lear by 46,707.8% in the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock valued at $109,054,000 after purchasing an additional 949,569 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Lear in the 2nd quarter valued at about $39,656,000. Caisse de depot et placement du Quebec acquired a new position in shares of Lear in the 3rd quarter valued at about $40,984,000. American Century Companies Inc. lifted its stake in shares of Lear by 23.6% in the 3rd quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock valued at $157,891,000 after purchasing an additional 299,841 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Lear in the 4th quarter valued at about $22,539,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Stock Performance

Lear stock opened at $144.17 on Friday. The stock’s 50 day moving average price is $130.39 and its 200 day moving average price is $123.59. The firm has a market capitalization of $7.22 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. Lear Corporation has a one year low of $86.14 and a one year high of $150.33.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.Lear’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. As a group, sell-side analysts expect that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Dividend Announcement

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

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 stock was sold at an average price of $141.38, for a total transaction of $330,263.68. Following the transaction, the senior vice president directly owned 2,339 shares of the company’s stock, valued at approximately $330,687.82. The trade was a 49.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief financial officer owned 13,241 shares in the company, valued at $1,953,047.50. This represents a 27.41% 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 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s prior quarterly results were strong, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year, reinforcing confidence in the auto supplier’s operating performance and helping support the stock. Article: Lear earnings and stock performance
• Positive Sentiment: The company also announced a quarterly dividend of $0.77 per share, signaling continued shareholder returns and a healthy payout ratio near 31%. Article: Lear dividend announcement
• Neutral Sentiment: Analyst sentiment remains mixed, with a consensus rating of Hold, though some firms still have bullish targets above current levels. Article: Lear analyst ratings
• Negative Sentiment: CFO Jason M. Cardew sold shares in two recent transactions, including 4,500 shares and 5,000 shares, which can pressure sentiment because investors often view insider selling as a sign of caution. Article: Lear CFO stock sales

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Argus raised Lear to a “strong-buy” rating in a research note on Monday, February 9th. UBS Group reduced their price objective on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lear in a research note on Monday, May 4th. Morgan Stanley set a $130.00 price objective on Lear in a research note on Monday, May 4th. Finally, TD Cowen raised Lear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $138.00 to $165.00 in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.