OP Asset Management Ltd Invests $542,000 in Lear Corporation $LEA

OP Asset Management Ltd purchased a new position in shares of Lear Corporation (NYSE:LEA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,479 shares of the auto parts company’s stock, valued at approximately $542,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEA. Cidel Asset Management Inc. purchased a new stake in Lear during the 1st quarter worth approximately $232,000. Krilogy Financial LLC boosted its stake in shares of Lear by 13.3% in the first quarter. Krilogy Financial LLC now owns 1,901 shares of the auto parts company’s stock worth $226,000 after acquiring an additional 223 shares during the last quarter. Evolve Private Wealth LLC boosted its stake in shares of Lear by 95.6% in the first quarter. Evolve Private Wealth LLC now owns 4,788 shares of the auto parts company’s stock worth $580,000 after acquiring an additional 2,340 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Lear by 57.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 576 shares of the auto parts company’s stock worth $66,000 after purchasing an additional 210 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Lear by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 15,937 shares of the auto parts company’s stock worth $1,827,000 after purchasing an additional 481 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Stock Up 0.0%

Shares of LEA opened at $133.83 on Wednesday. Lear Corporation has a 52-week low of $91.67 and a 52-week high of $150.33. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $137.17 and a two-hundred day simple moving average of $127.85. The company has a market capitalization of $6.71 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the company posted $3.12 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Lear Corporation will post 14.64 EPS for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.3%. Lear’s dividend payout ratio is 30.80%.

Wall Street Analyst Weigh In

LEA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a report on Monday, May 4th. Royal Bank Of Canada boosted their price target on shares of Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price objective on shares of Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Citigroup increased their price objective on shares of Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and raised their target price for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.38.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear said the StoneShield acquisition should strengthen its automation capabilities, which could support efficiency, manufacturing flexibility, and longer-term margin improvement. Lear expands automation capabilities with StoneShield acquisition
• Neutral Sentiment: Several unrelated articles in the feed covered learning software, AI in education, and crypto topics, with no direct impact on Lear’s core auto parts business.

Insider Activity

In other news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the sale, the chief financial officer owned 13,241 shares in the company, valued at $1,953,047.50. This trade represents a 27.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the sale, the senior vice president directly owned 2,339 shares in the company, valued at approximately $330,687.82. The trade was a 49.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,026 shares of company stock worth $8,498,248 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.

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.