Bank of Montreal Can Has $1.03 Million Stock Position in Lear Corporation $LEA

Bank of Montreal Can cut its holdings in Lear Corporation (NYSE:LEA) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,798 shares of the auto parts company’s stock after selling 1,665 shares during the quarter. Bank of Montreal Can’s holdings in Lear were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. IFP Advisors Inc grew its holdings in Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 263 shares during the period. WPG Advisers LLC acquired a new position in shares of Lear during the first quarter valued at about $39,000. Bessemer Group Inc. boosted its position in shares of Lear by 100.0% during the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 227 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Lear by 2,682.9% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after buying an additional 939 shares during the period. Finally, Bayforest Capital Ltd increased its position in Lear by 955.2% in the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock valued at $98,000 after buying an additional 1,003 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LEA shares. Bank of America lowered Lear from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. UBS Group lowered their target price on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Lear from $133.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price objective on shares of Lear from $108.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $118.60.

Lear Stock Performance

NYSE LEA opened at $106.11 on Friday. The company has a fifty day moving average price of $103.87 and a 200-day moving average price of $99.81. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.82 and a beta of 1.38. 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 Corporation has a 1 year low of $73.85 and a 1 year high of $113.10.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a net margin of 2.05% and a return on equity of 13.94%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same period in the previous year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 1.7% 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 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.