Mitsubishi UFJ Trust & Banking Corp Purchases 839 Shares of Lear Co. (NYSE:LEA)

Posted by Defense World Staff on Aug 23rd, 2023

Mitsubishi UFJ Trust & Banking Corp grew its position in Lear Co. (NYSE:LEA – Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,679 shares of the auto parts company’s stock after acquiring an additional 839 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Lear worth $4,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LEA. American Century Companies Inc. grew its holdings in Lear by 4.0% during the 1st quarter. American Century Companies Inc. now owns 10,192 shares of the auto parts company’s stock worth $1,454,000 after acquiring an additional 390 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Lear during the first quarter valued at approximately $657,000. Bank of Montreal Can lifted its holdings in Lear by 81.0% during the 1st quarter. Bank of Montreal Can now owns 19,834 shares of the auto parts company’s stock worth $2,890,000 after buying an additional 8,878 shares in the last quarter. Raymond James Trust N.A. boosted its position in Lear by 47.8% in the 1st quarter. Raymond James Trust N.A. now owns 1,948 shares of the auto parts company’s stock valued at $277,000 after buying an additional 630 shares during the last quarter. Finally, Aviva PLC increased its position in Lear by 62.8% in the first quarter. Aviva PLC now owns 39,256 shares of the auto parts company’s stock worth $5,598,000 after purchasing an additional 15,137 shares during the period. 98.40% of the stock is owned by institutional investors and hedge funds.

Lear Stock Down 0.5 %

Shares of LEA stock opened at $140.94 on Wednesday. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 0.37 and a beta of 1.58. Lear Co. has a 12-month low of $114.67 and a 12-month high of $157.90. The firm has a fifty day moving average of $146.83 and a 200-day moving average of $138.48. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.54.

Lear (NYSE:LEA – Get Free Report) last released its earnings results on Tuesday, August 1st. The auto parts company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.12. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Lear had a return on equity of 13.84% and a net margin of 2.32%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS. As a group, equities research analysts predict that Lear Co. will post 11.83 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, September 19th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, August 30th. Lear’s dividend payout ratio (DPR) is currently 35.16%.

Insider Transactions at Lear

In related news, CEO Raymond E. Scott sold 16,740 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $142.80, for a total transaction of $2,390,472.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Raymond E. Scott sold 16,740 shares of Lear stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $142.80, for a total value of $2,390,472.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $151.57, for a total value of $416,817.50. Following the transaction, the chief financial officer now directly owns 13,493 shares of the company’s stock, valued at $2,045,134.01. The disclosure for this sale can be found here. Insiders sold 42,132 shares of company stock valued at $6,321,732 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. BNP Paribas upgraded shares of Lear from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 1st. 888 reissued a “maintains” rating on shares of Lear in a research note on Friday, April 28th. Wells Fargo & Company upped their price target on Lear from $144.00 to $164.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Lear from $169.00 to $179.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Lear from $137.00 to $147.00 in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.64.

View Our Latest Analysis on LEA

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.