Brandywine Global Investment Management LLC Buys 10,740 Shares of Lear Corporation $LEA

Brandywine Global Investment Management LLC increased its stake in shares of Lear Corporation (NYSE:LEA) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 101,635 shares of the auto parts company’s stock after purchasing an additional 10,740 shares during the period. Brandywine Global Investment Management LLC’s holdings in Lear were worth $11,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEA. Jones Financial Companies Lllp boosted its position in Lear by 5,205.1% during the first quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after purchasing an additional 7,131 shares during the period. United Services Automobile Association acquired a new stake in shares of Lear in the first quarter worth $267,000. Empowered Funds LLC bought a new stake in shares of Lear during the 1st quarter worth $256,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 37.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock worth $92,000 after buying an additional 262 shares during the period. Finally, Cerity Partners LLC grew its stake in Lear by 9.5% in the 2nd quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock valued at $408,000 after buying an additional 372 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on LEA shares. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a research report on Monday, May 4th. Citigroup lifted their price objective on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. TD Cowen raised Lear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $138.00 to $165.00 in a research report on Tuesday, May 26th. UBS Group lowered their target price on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group upped their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Lear has a consensus rating of “Hold” and an average price target of $143.08.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Recent quarterly results were solid, with Lear beating earnings estimates and posting higher revenue versus last year, supporting the case for continued profitability. MarketBeat LEA summary
• Positive Sentiment: A Zacks piece highlighted Lear as a long-term growth name, which may help keep valuation-focused investors engaged. Zacks article
• Neutral Sentiment: With no major new company-specific announcement in the latest batch of articles, LEA’s move appears driven more by sentiment and profit-taking than by a new operational development.

Insider Transactions at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 approximately $1,953,047.50. This represents a 27.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nicholas Jon Roelli sold 2,336 shares of the firm’s 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 transaction, the senior vice president owned 2,339 shares of the company’s stock, valued at $330,687.82. This trade represents a 49.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,880 shares of company stock valued at $1,708,003. Corporate insiders own 1.02% of the company’s stock.

Lear Stock Down 2.0%

Shares of LEA stock opened at $142.01 on Wednesday. Lear Corporation has a one year low of $89.29 and a one year high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The stock has a fifty day moving average price of $131.70 and a 200 day moving average price of $124.44. The stock has a market cap of $7.11 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 0.74 and a beta of 1.23.

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

Lear Dividend Announcement

The firm 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 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s dividend payout ratio is 30.80%.

Lear Company 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.