Lear Co. (NYSE:LEA) Shares Bought by Level Four Advisory Services LLC

Posted by Defense World Staff on Sep 23rd, 2023

Level Four Advisory Services LLC raised its stake in Lear Co. (NYSE:LEA – Free Report) by 21.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,781 shares of the auto parts company’s stock after purchasing an additional 1,925 shares during the quarter. Level Four Advisory Services LLC’s holdings in Lear were worth $1,548,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Lear in the 4th quarter valued at $223,000. abrdn plc boosted its holdings in shares of Lear by 1.9% in the 4th quarter. abrdn plc now owns 6,545 shares of the auto parts company’s stock valued at $812,000 after purchasing an additional 123 shares during the last quarter. Simplicity Solutions LLC raised its stake in shares of Lear by 77.0% in the 1st quarter. Simplicity Solutions LLC now owns 5,392 shares of the auto parts company’s stock valued at $752,000 after acquiring an additional 2,345 shares during the period. Citigroup Inc. raised its stake in shares of Lear by 19.0% in the 1st quarter. Citigroup Inc. now owns 36,877 shares of the auto parts company’s stock valued at $5,144,000 after acquiring an additional 5,879 shares during the period. Finally, Lakewood Asset Management LLC raised its stake in shares of Lear by 3.8% in the 1st quarter. Lakewood Asset Management LLC now owns 8,741 shares of the auto parts company’s stock valued at $1,219,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Price Performance

LEA opened at $132.72 on Friday. The company has a 50-day moving average of $145.07 and a 200-day moving average of $138.40. The company has a market capitalization of $7.80 billion, a P/E ratio of 15.15, a PEG ratio of 0.35 and a beta of 1.60. Lear Co. has a 1-year low of $114.67 and a 1-year high of $157.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.36.

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 for the quarter, topping the consensus estimate of $3.21 by $0.12. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.89 billion. Lear had a net margin of 2.32% and a return on equity of 13.84%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.79 EPS. Equities analysts expect that Lear Co. will post 11.83 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, August 30th. Lear’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LEA. Benchmark raised their target price on shares of Lear from $182.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. UBS Group began coverage on shares of Lear in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $150.00 target price on the stock. BNP Paribas raised shares of Lear from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 1st. Argus raised their target price on shares of Lear from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lear from $137.00 to $147.00 in a research note on Wednesday, June 28th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.45.

View Our Latest Research Report on LEA

Insider Activity

In other news, SVP Carl A. Esposito sold 10,310 shares of Lear stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $155.00, for a total value of $1,598,050.00. Following the completion of the transaction, the senior vice president now directly owns 9,105 shares of the company’s stock, valued at approximately $1,411,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Frank C. Orsini sold 12,332 shares of Lear stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $155.40, for a total value of $1,916,392.80. Following the completion of the transaction, the executive vice president now directly owns 7,809 shares of the company’s stock, valued at approximately $1,213,518.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carl A. Esposito sold 10,310 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $155.00, for a total transaction of $1,598,050.00. Following the transaction, the senior vice president now directly owns 9,105 shares of the company’s stock, valued at $1,411,275. The disclosure for this sale can be found here. In the last three months, insiders sold 25,392 shares of company stock valued at $3,931,260. Company insiders own 0.75% of the company’s stock.

About Lear

(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.