Intech Investment Management LLC Sells 66,503 Shares of Lear Corporation $LEA

Intech Investment Management LLC reduced its stake in Lear Corporation (NYSE:LEA) by 63.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,388 shares of the auto parts company’s stock after selling 66,503 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Lear worth $3,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. WPG Advisers LLC acquired a new stake in shares of Lear in the 1st quarter valued at $39,000. Putney Financial Group LLC bought a new position in Lear during the 4th quarter valued at about $58,000. Fifth Third Bancorp boosted its position in Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock valued at $67,000 after buying an additional 435 shares in the last quarter. CX Institutional bought a new stake in Lear during the first quarter worth about $71,000. Finally, GAMMA Investing LLC increased its holdings in shares of Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LEA. Citigroup increased their price objective on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Morgan Stanley decreased their price target on shares of Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $123.00 in a research note on Wednesday. Wells Fargo & Company increased their target price on Lear from $102.00 to $111.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, UBS Group dropped their price target on Lear from $116.00 to $109.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $112.70.

Lear Price Performance

NYSE:LEA opened at $105.68 on Friday. The company has a market cap of $5.62 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.86 and a beta of 1.34. The firm’s fifty day moving average price is $104.21 and its two-hundred day moving average price is $94.87. Lear Corporation has a one year low of $73.85 and a one year high of $115.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07.

Lear (NYSE:LEA) last posted its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.24. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. Lear’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $3.60 EPS. Lear has set its FY 2025 guidance at EPS. Equities analysts expect that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 3rd. Lear’s dividend payout ratio (DPR) is currently 35.94%.

Insider Transactions at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total transaction of $492,350.00. Following the completion of the sale, the chief financial officer directly owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the transaction, the chief executive officer owned 38,729 shares of the company’s stock, valued at $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,187 shares of company stock valued at $1,086,425. Corporate insiders own 0.91% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.