Sei Investments Co. Purchases 39,422 Shares of Lear Corporation $LEA

Sei Investments Co. boosted its position in Lear Corporation (NYSE:LEA) by 28.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,084 shares of the auto parts company’s stock after buying an additional 39,422 shares during the quarter. Sei Investments Co. owned approximately 0.35% of Lear worth $21,320,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of LEA. M&T Bank Corp boosted its position in Lear by 46,707.8% during the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock worth $109,054,000 after acquiring an additional 949,569 shares during the last quarter. Norges Bank bought a new stake in shares of Lear in the fourth quarter worth $82,016,000. Balyasny Asset Management L.P. acquired a new position in Lear during the second quarter worth $39,656,000. Caisse de depot et placement du Quebec acquired a new position in Lear during the third quarter worth $40,984,000. Finally, AQR Capital Management LLC grew its position in Lear by 34.1% in the fourth quarter. AQR Capital Management LLC now owns 789,745 shares of the auto parts company’s stock valued at $90,505,000 after purchasing an additional 200,617 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Vehicle-technology exposure highlighted: Zacks named Lear one of three automotive-equipment stocks positioned to benefit as vehicle technology evolves, citing its advanced seating systems and role in future mobility. This reinforces the investment case for Lear’s content growth in increasingly sophisticated vehicles. 3 Automotive Equipment Stocks to Buy as Vehicle Tech Evolves
• Positive Sentiment: Growth-stock rationale remains constructive: A separate Zacks analysis identified three reasons Lear could deliver strong returns, pointing to its growth attributes. The commentary may support continued investor interest following Lear’s recent earnings beat and year-over-year revenue growth. Looking for a Growth Stock? 3 Reasons Why Lear (LEA) is a Solid Choice
• Neutral Sentiment: Peer-performance comparison: Zacks compared Lear with Visteon and the broader auto, tires and trucks group. The article may influence sector-focused investors, but the supplied headline does not provide enough detail to determine whether Lear is outperforming or lagging its peers. Is Lear Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Lear Stock Up 2.4%

Lear stock opened at $148.49 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The company’s 50-day moving average is $139.81 and its 200-day moving average is $130.81. The firm has a market capitalization of $7.44 billion, a PE ratio of 14.85, a P/E/G ratio of 0.70 and a beta of 1.25. Lear Corporation has a fifty-two week low of $91.67 and a fifty-two week high of $150.33.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the business posted $3.12 EPS. Lear’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Lear Corporation will post 14.81 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is presently 30.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LEA shares. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Lear in a research note on Monday, May 4th. The Goldman Sachs Group raised their price objective on Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Barclays lifted their target price on Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Morgan Stanley set a $130.00 price target on Lear in a research report on Monday, May 4th. 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 equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.62.

Insiders Place Their Bets

In related news, CEO Raymond E. Scott sold 50,000 shares of the stock in a transaction on 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 sale, the chief executive officer owned 49,789 shares in the company, valued at approximately $6,739,936.93. This represents a 50.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at $1,953,047.50. This represents a 27.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 62,026 shares of company stock valued at $8,498,248. 1.02% of the stock is owned by insiders.

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.