Rhumbline Advisers Sells 1,431 Shares of Lear Corporation $LEA

by · The Cerbat Gem

Rhumbline Advisers trimmed its stake in Lear Corporation (NYSE:LEA – Free Report) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,522 shares of the auto parts company’s stock after selling 1,431 shares during the period. Rhumbline Advisers owned 0.29% of Lear worth $14,486,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in shares of Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 263 shares during the period. WPG Advisers LLC bought a new stake in shares of Lear during the 1st quarter worth $39,000. Bessemer Group Inc. grew its stake in Lear by 100.0% in the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company’s stock valued at $43,000 after buying an additional 227 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Lear by 610.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 639 shares of the auto parts company’s stock worth $61,000 after acquiring an additional 549 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its position in Lear by 2,682.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock worth $93,000 after acquiring an additional 939 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Price Performance

Shares of LEA stock opened at $107.36 on Friday. The stock’s fifty day simple moving average is $103.29 and its 200 day simple moving average is $100.91. Lear Corporation has a one year low of $73.85 and a one year high of $113.10. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.82 and a beta of 1.38. 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 (NYSE:LEA – Get Free Report) last issued its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. Lear had a return on equity of 13.94% and a net margin of 2.05%.The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same period last year, the business earned $2.89 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Lear has set its FY 2025 guidance at EPS. On average, analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Wednesday, December 10th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 10th. Lear’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group dropped their price objective on Lear from $109.00 to $106.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Bank of America lowered Lear from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. Barclays increased their price objective on Lear from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, The Goldman Sachs Group set a $104.00 target price on shares of Lear in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Lear currently has an average rating of “Hold” and an average price target of $119.60.

Read Our Latest Stock Report on Lear

Lear Company Profile

(Free Report)

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.

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