Janney Montgomery Scott LLC Acquires 121 Shares of Lear Corporation $LEA

Janney Montgomery Scott LLC increased its stake in Lear Corporation (NYSE:LEA) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,158 shares of the auto parts company’s stock after purchasing an additional 121 shares during the period. Janney Montgomery Scott LLC’s holdings in Lear were worth $585,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. SummerHaven Investment Management LLC boosted its position in Lear by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company’s stock valued at $661,000 after acquiring an additional 176 shares during the last quarter. Entropy Technologies LP raised its holdings in shares of Lear by 2.3% during the first quarter. Entropy Technologies LP now owns 10,735 shares of the auto parts company’s stock valued at $947,000 after purchasing an additional 244 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Lear by 7.6% during the first quarter. TD Private Client Wealth LLC now owns 3,591 shares of the auto parts company’s stock valued at $317,000 after purchasing an additional 255 shares during the period. Cetera Investment Advisers raised its holdings in shares of Lear by 7.8% during the first quarter. Cetera Investment Advisers now owns 3,573 shares of the auto parts company’s stock valued at $315,000 after purchasing an additional 257 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Lear by 3.6% during the first quarter. Impax Asset Management Group plc now owns 8,159 shares of the auto parts company’s stock valued at $720,000 after purchasing an additional 280 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LEA shares. Citigroup reiterated a “neutral” rating on shares of Lear in a report on Tuesday. The Goldman Sachs Group set a $104.00 price objective on shares of Lear in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Lear from $113.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Finally, UBS Group dropped their price objective on shares of Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.70.

Insider Buying and Selling at Lear

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

Lear Stock Performance

NYSE LEA opened at $100.40 on Friday. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.79 and a beta of 1.32. The company has a fifty day moving average price of $104.23 and a 200-day moving average price of $96.10.

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 the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The business’s revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd were paid a $0.77 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $3.08 annualized dividend and a dividend yield of 3.1%. Lear’s dividend payout ratio is presently 35.94%.

About Lear

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.