Lear Corporation $LEA Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of Lear Corporation (NYSE:LEA) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,194 shares of the auto parts company’s stock after selling 1,984 shares during the quarter. Teacher Retirement System of Texas’ holdings in Lear were worth $1,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC bought a new position in shares of Lear in the first quarter valued at approximately $1,463,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lear in the 1st quarter valued at approximately $725,000. Voya Investment Management LLC increased its stake in Lear by 34.4% in the 1st quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after buying an additional 11,696 shares during the period. Eagle Global Advisors LLC increased its stake in Lear by 11.5% in the 1st quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company’s stock valued at $6,663,000 after buying an additional 7,800 shares during the period. Finally, Comerica Bank raised its holdings in shares of Lear by 9.8% during the 1st quarter. Comerica Bank now owns 40,086 shares of the auto parts company’s stock valued at $3,536,000 after purchasing an additional 3,575 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Lear Stock Up 3.2%

Lear stock opened at $108.01 on Tuesday. The stock has a market capitalization of $5.75 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.32. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $113.10. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $104.17 and a 200-day moving average of $98.31.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 earnings per share. Lear has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group cut their price target on shares of Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. JPMorgan Chase & Co. raised their price objective on shares of Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Barclays lifted their price target on shares of Lear from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, Bank of America downgraded shares of Lear from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Lear has an average rating of “Hold” and an average price target of $118.10.

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.