Mirae Asset Global Investments Co. Ltd. Purchases 492 Shares of Lear Corporation $LEA

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Lear Corporation (NYSE:LEA) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,221 shares of the auto parts company’s stock after acquiring an additional 492 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lear were worth $686,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LEA. WPG Advisers LLC bought a new position in shares of Lear during the 1st quarter worth approximately $39,000. Fifth Third Bancorp raised its stake in shares of Lear by 131.8% during the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after acquiring an additional 435 shares in the last quarter. CX Institutional bought a new position in shares of Lear during the 1st quarter worth approximately $71,000. GAMMA Investing LLC raised its stake in shares of Lear by 57.9% during the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after acquiring an additional 344 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of Lear by 955.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,003 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. UBS Group dropped their target price on shares of Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays boosted their target price on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Citigroup boosted their target price on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Lear currently has a consensus rating of “Hold” and a consensus price target of $113.70.

Lear Stock Down 2.1%

LEA stock opened at $96.76 on Friday. The firm’s fifty day simple moving average is $103.83 and its 200-day simple moving average is $95.85. The company has a market capitalization of $5.15 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.32. 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 12 month low of $73.85 and a 12 month high of $113.10.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.23 by $0.24. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 3.2%. Lear’s dividend payout ratio is 35.94%.

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.