Grimes & Company Inc. Sells 64,715 Shares of Lear Corporation $LEA

Grimes & Company Inc. reduced its position in shares of Lear Corporation (NYSE:LEA) by 82.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,202 shares of the auto parts company’s stock after selling 64,715 shares during the period. Grimes & Company Inc.’s holdings in Lear were worth $1,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oldfield Partners LLP bought a new position in Lear during the 1st quarter worth approximately $53,799,000. AQR Capital Management LLC increased its position in shares of Lear by 483.4% during the 1st quarter. AQR Capital Management LLC now owns 567,335 shares of the auto parts company’s stock worth $49,625,000 after purchasing an additional 470,096 shares during the last quarter. American Century Companies Inc. raised its position in Lear by 105.7% during the first quarter. American Century Companies Inc. now owns 710,962 shares of the auto parts company’s stock worth $62,721,000 after acquiring an additional 365,382 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lear by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock valued at $587,315,000 after purchasing an additional 165,494 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Lear by 38.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 540,411 shares of the auto parts company’s stock valued at $47,675,000 after buying an additional 149,644 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analyst Ratings Changes

LEA has been the topic of a number of research reports. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lear in a research note on Saturday, September 27th. Wells Fargo & Company lowered their price target on Lear from $113.00 to $108.00 and set an “equal weight” rating for the company in a report on Friday. The Goldman Sachs Group set a $104.00 target price on shares of Lear in a research report on Monday, September 29th. Finally, Citigroup boosted their price target on Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Lear has an average rating of “Hold” and a consensus price target of $113.70.

Lear Trading Down 1.0%

Shares of Lear stock opened at $102.98 on Tuesday. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $113.10. The stock has a 50 day moving average price of $103.47 and a two-hundred day moving average price of $95.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The stock has a market capitalization of $5.48 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.32.

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

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, September 3rd. Lear’s payout ratio is currently 35.94%.

Insider Buying and Selling

In related news, 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 value of $483,850.00. Following the sale, the chief executive officer owned 38,729 shares in the company, valued at approximately $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred 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 owned 20,244 shares of the company’s stock, valued at approximately $1,993,426.68. The trade was a 19.81% 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.

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.