Life Cycle Investment Partners Ltd Buys New Stake in Lear Corporation $LEA

Life Cycle Investment Partners Ltd purchased a new position in shares of Lear Corporation (NYSE:LEA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 196,672 shares of the auto parts company’s stock, valued at approximately $22,539,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC increased its stake in Lear by 4.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock worth $274,000 after buying an additional 99 shares during the period. Allworth Financial LP increased its stake in Lear by 32.0% during the 4th quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock worth $47,000 after buying an additional 99 shares during the period. Lakewood Asset Management LLC increased its stake in Lear by 1.0% during the 4th quarter. Lakewood Asset Management LLC now owns 13,644 shares of the auto parts company’s stock worth $1,564,000 after buying an additional 132 shares during the period. Signaturefd LLC increased its stake in Lear by 10.8% during the 4th quarter. Signaturefd LLC now owns 1,840 shares of the auto parts company’s stock worth $211,000 after buying an additional 179 shares during the period. Finally, Waterfront Wealth Inc. increased its stake in Lear by 1.1% during the 3rd quarter. Waterfront Wealth Inc. now owns 16,834 shares of the auto parts company’s stock worth $1,685,000 after buying an additional 186 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Price Performance

LEA opened at $139.73 on Friday. The company has a 50-day moving average of $125.37 and a 200-day moving average of $121.21. The company has a market capitalization of $7.00 billion, a P/E ratio of 13.97, a PEG ratio of 0.71 and a beta of 1.21. Lear Corporation has a 1-year low of $86.14 and a 1-year high of $142.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33.

Lear (NYSE:LEA) last released its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping 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 company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts expect that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s dividend payout ratio is currently 30.80%.

Insider Buying and Selling at Lear

In related news, VP Marianne Vidershain sold 1,590 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total transaction of $214,650.00. Following the completion of the sale, the vice president owned 1,862 shares of the company’s stock, valued at $251,370. This represents a 46.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlighted Lear (LEA) as a top-ranked growth stock, which may draw in growth-oriented investors and support the shares. Lear (LEA) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Recent articles about saunas, red light therapy, crypto regulation, and other unrelated topics do not appear to affect Lear’s shares. The health benefits of saunas: backed by research and experts
• Neutral Sentiment: Lear’s latest reported results showed EPS ahead of expectations and revenue growth, helping reinforce the stock’s positive momentum, though this was from an earlier earnings release rather than a new catalyst today.

Analyst Ratings Changes

Several research firms recently issued reports on LEA. Wells Fargo & Company lifted their price target on shares of Lear from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Argus raised shares of Lear to a “strong-buy” rating in a research note on Monday, February 9th. Barclays lifted their price target on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a research report on Monday, May 4th. Finally, Benchmark assumed coverage on shares of Lear in a research report on Thursday, February 19th. They issued a “buy” rating and a $170.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $140.54.

Lear 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.