KLP Kapitalforvaltning AS Purchases 700 Shares of Lear Corporation $LEA

KLP Kapitalforvaltning AS boosted its position in Lear Corporation (NYSE:LEA) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,100 shares of the auto parts company’s stock after acquiring an additional 700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Lear were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in Lear in the first quarter valued at about $39,000. Fifth Third Bancorp boosted its holdings in Lear by 131.8% during the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after buying an additional 435 shares during the last quarter. CX Institutional bought a new position in Lear during the first quarter worth about $71,000. GAMMA Investing LLC boosted its holdings in 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 during the last quarter. Finally, Bayforest Capital Ltd boosted its holdings in Lear by 955.2% during the first quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after buying an additional 1,003 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Up 1.2%

Shares of Lear stock opened at $97.93 on Tuesday. The business’s 50 day simple moving average is $103.93 and its 200 day simple moving average is $95.96. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $113.10. The firm has a market cap of $5.21 billion, a PE ratio of 11.43, a P/E/G ratio of 0.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

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

Lear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s dividend payout ratio (DPR) is currently 35.94%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup raised their target price on Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Wall Street Zen upgraded Lear from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Lear from $113.00 to $108.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Finally, The Goldman Sachs Group set a $104.00 price target on Lear in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.70.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the sale, the chief executive officer owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer directly owned 20,244 shares in the company, valued at approximately $1,993,426.68. This represents 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 company insiders.

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.