Fifth Third Bancorp Sells 457 Shares of Lear Corporation $LEA

Fifth Third Bancorp cut its stake in shares of Lear Corporation (NYSE:LEA) by 59.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308 shares of the auto parts company’s stock after selling 457 shares during the quarter. Fifth Third Bancorp’s holdings in Lear were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in Lear during the first quarter valued at approximately $39,000. CX Institutional bought a new stake in shares of Lear in the 1st quarter worth approximately $71,000. GAMMA Investing LLC lifted its holdings in shares of Lear by 57.9% in the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after acquiring an additional 344 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Lear by 955.2% in the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 486.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the auto parts company’s stock worth $149,000 after acquiring an additional 1,397 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LEA shares. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a report on Saturday, September 27th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Barclays boosted their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. Finally, Citigroup lifted their target price on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.00.

Insider Activity

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

Lear Stock Performance

Shares of LEA stock opened at $103.88 on Friday. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $113.10. The stock has a market cap of $5.53 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.80 and a beta of 1.32. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $103.38 and its 200-day moving average price is $95.71.

Lear (NYSE:LEA) last announced its quarterly 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 for 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 revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. Lear has set its FY 2025 guidance at EPS. On average, equities analysts expect that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $3.08 annualized dividend and a yield of 3.0%. Lear’s dividend payout ratio is currently 35.94%.

Lear 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.