Illinois Municipal Retirement Fund Has $1.41 Million Position in Lear Corporation $LEA

Illinois Municipal Retirement Fund raised its holdings in Lear Corporation (NYSE:LEA) by 93.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,664 shares of the auto parts company’s stock after buying an additional 5,646 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lear were worth $1,412,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LEA. Altshuler Shaham Ltd bought a new position in shares of Lear during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in Lear in the fourth quarter valued at about $30,000. Global Retirement Partners LLC raised its position in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 245 shares in the last quarter. WealthCollab LLC acquired a new position in Lear in the second quarter worth about $28,000. Finally, Allworth Financial LP lifted its stake in Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LEA shares. Citigroup lifted their price objective on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. TD Cowen upgraded 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 report on Tuesday, May 26th. Weiss Ratings raised Lear from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Barclays upped their price target on Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $144.62.

Lear Stock Performance

NYSE LEA opened at $142.79 on Wednesday. Lear Corporation has a 1-year low of $91.67 and a 1-year high of $150.33. The company has a 50 day moving average of $138.70 and a 200-day moving average of $129.94. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.68 and a beta of 1.25.

Lear (NYSE:LEA) last announced its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.Lear’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 EPS. On average, equities analysts forecast that Lear Corporation will post 14.81 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.2%. Lear’s payout ratio is currently 30.80%.

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.