Greenhaven Associates Inc. Has $180.68 Million Stock Position in Lear Corporation $LEA

Greenhaven Associates Inc. cut its holdings in Lear Corporation (NYSE:LEA) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,795,824 shares of the auto parts company’s stock after selling 45,823 shares during the period. Lear makes up approximately 2.7% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 10th largest position. Greenhaven Associates Inc. owned about 3.38% of Lear worth $180,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEA. IFP Advisors Inc grew its holdings in shares of Lear by 1,384.2% during the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. WealthCollab LLC acquired a new stake in Lear in the second quarter valued at approximately $28,000. Quent Capital LLC acquired a new stake in shares of Lear in the 3rd quarter worth about $38,000. Farther Finance Advisors LLC lifted its position in shares of Lear by 34.0% during the third quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 107 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Lear by 100.0% in the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock worth $43,000 after buying an additional 227 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Transactions at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total transaction of $590,850.00. Following the sale, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. This trade represents a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

LEA has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target on shares of Lear in a research report on Thursday, January 15th. Barclays upped their price objective on shares of Lear from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a research report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective 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. Finally, Evercore ISI upped their price target on shares of Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.20.

Lear Stock Down 2.9%

NYSE:LEA opened at $117.07 on Friday. Lear Corporation has a 1-year low of $73.85 and a 1-year high of $127.36. The company has a 50-day moving average of $116.31 and a 200 day moving average of $107.97. The firm has a market cap of $6.07 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.05.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. Lear had a net margin of 1.92% and a return on equity of 13.44%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th were given a dividend of $0.77 per share. The ex-dividend date was Wednesday, December 10th. This represents a $3.08 dividend on an annualized basis and a yield of 2.6%. Lear’s payout ratio is currently 37.65%.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.