Nomura Asset Management Co. Ltd. Decreases Stock Position in Lear Corporation $LEA

Nomura Asset Management Co. Ltd. cut its stake in Lear Corporation (NYSE:LEA) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,364 shares of the auto parts company’s stock after selling 12,300 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Lear were worth $5,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its holdings in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the period. WealthCollab LLC purchased a new stake in Lear during the 2nd quarter worth about $28,000. Allworth Financial LP lifted its holdings in Lear by 62.6% during the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after buying an additional 119 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Lear during the 3rd quarter worth about $33,000. Finally, Quarry LP lifted its holdings in Lear by 94.9% during the 3rd quarter. Quarry LP now owns 458 shares of the auto parts company’s stock worth $46,000 after buying an additional 223 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Lear news, SVP Nicholas Jon Roelli sold 2,336 shares of Lear stock in a transaction that occurred 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 sale, the senior vice president owned 2,339 shares of the company’s stock, valued at approximately $330,687.82. The trade was a 49.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. This represents a 27.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,880 shares of company stock worth $1,708,003 in the last 90 days. 1.02% of the stock is currently owned by insiders.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s prior quarterly results were strong, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year, reinforcing confidence in the auto supplier’s operating performance and helping support the stock. Article: Lear earnings and stock performance
• Positive Sentiment: The company also announced a quarterly dividend of $0.77 per share, signaling continued shareholder returns and a healthy payout ratio near 31%. Article: Lear dividend announcement
• Neutral Sentiment: Analyst sentiment remains mixed, with a consensus rating of Hold, though some firms still have bullish targets above current levels. Article: Lear analyst ratings
• Negative Sentiment: CFO Jason M. Cardew sold shares in two recent transactions, including 4,500 shares and 5,000 shares, which can pressure sentiment because investors often view insider selling as a sign of caution. Article: Lear CFO stock sales

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LEA. JPMorgan Chase & Co. lifted their price target on Lear from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Citigroup lifted their price target on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group cut their target price on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on Lear in a research report on Monday, May 4th. Finally, Bank of America began coverage on Lear in a research report on Wednesday, March 4th. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and an average price target of $143.08.

Lear Stock Performance

Shares of LEA stock opened at $144.17 on Friday. The stock has a market capitalization of $7.22 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.23. Lear Corporation has a 52-week low of $86.14 and a 52-week high of $150.33. The stock’s 50-day moving average price is $130.39 and its 200 day moving average price is $123.59. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 EPS. As a group, equities research analysts forecast that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. Lear’s payout ratio is 30.80%.

About Lear

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.