Norges Bank Makes New Investment in Lear Corporation $LEA

Norges Bank bought a new position in Lear Corporation (NYSE:LEA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 715,670 shares of the auto parts company’s stock, valued at approximately $82,016,000. Norges Bank owned 1.38% of Lear as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Pallas Capital Advisors LLC increased its stake in shares of Lear by 4.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock valued at $274,000 after buying an additional 99 shares during the period. Allworth Financial LP boosted its holdings in Lear by 32.0% in the fourth quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock worth $47,000 after acquiring an additional 99 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in Lear by 1.0% in the fourth quarter. Lakewood Asset Management LLC now owns 13,644 shares of the auto parts company’s stock worth $1,564,000 after acquiring an additional 132 shares in the last quarter. Signaturefd LLC boosted its holdings in Lear by 10.8% in the fourth quarter. Signaturefd LLC now owns 1,840 shares of the auto parts company’s stock worth $211,000 after acquiring an additional 179 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its holdings in shares of Lear by 1.1% during the third quarter. Waterfront Wealth Inc. now owns 16,834 shares of the auto parts company’s stock valued at $1,685,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Trading Down 1.9%

Shares of NYSE:LEA opened at $141.29 on Friday. Lear Corporation has a 12-month low of $88.04 and a 12-month high of $150.33. The business’s fifty day simple moving average is $130.77 and its 200-day simple moving average is $123.72. The company has a market capitalization of $7.08 billion, a PE ratio of 14.13, a P/E/G ratio of 0.73 and a beta of 1.23. 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 (NYSE:LEA) last announced 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 firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the business earned $3.12 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Dividend Announcement

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

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s most recent earnings report beat EPS expectations and showed year-over-year revenue growth, reinforcing the view that fundamentals are improving and helping support the stock near its highs.
• Positive Sentiment: The company recently declared a quarterly dividend of $0.77 per share, signaling ongoing cash generation and shareholder returns, which can support investor confidence.
• Neutral Sentiment: Lear announced it will participate in a Wolfe Research Autos and Mobility Conference on June 18. This is an investor-relations event and may draw attention to the stock, but it does not change fundamentals by itself. Article Title: Lear to Participate in Wolfe Research Autos and Mobility Conference
• Neutral Sentiment: Insider selling by CFO Jason Cardew was disclosed, but the sale was relatively small versus his remaining holdings, so it is more of a cautionary signal than a major red flag.
• Negative Sentiment: The CFO’s share sale could create some short-term caution after the stock’s strong run, as some investors may wonder whether insider confidence is limited at current levels.

Insider Activity

In related 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 completion of the transaction, the senior vice president owned 2,339 shares in the company, valued at $330,687.82. The trade was a 49.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the transaction, the chief financial officer owned 13,241 shares of the company’s stock, valued at approximately $1,953,047.50. This represents a 27.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 11,880 shares of company stock valued at $1,708,003. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LEA shares. Royal Bank Of Canada upped their price target on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. UBS Group reduced their price target on Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Morgan Stanley set a $130.00 price target on Lear in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their target price on Lear from $152.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Argus upgraded Lear to a “strong-buy” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Lear 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.