Watershed Asset Management L.L.C. Makes New $443,000 Investment in Lear Corporation $LEA

Watershed Asset Management L.L.C. bought a new stake in shares of Lear Corporation (NYSE:LEA) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 3,657 shares of the auto parts company’s stock, valued at approximately $443,000.

A number of other large investors also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund lifted its stake in Lear by 93.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,664 shares of the auto parts company’s stock worth $1,412,000 after purchasing an additional 5,646 shares in the last quarter. NFSG Corp purchased a new stake in Lear during the first quarter valued at approximately $125,000. Principal Financial Group Inc. lifted its position in Lear by 1.5% in the first quarter. Principal Financial Group Inc. now owns 113,337 shares of the auto parts company’s stock worth $13,723,000 after buying an additional 1,724 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Lear in the 1st quarter worth about $309,000. Finally, J. Safra Sarasin Holding AG bought a new stake in Lear in the first quarter worth about $318,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nicholas Jon Roelli sold 2,336 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond E. Scott sold 50,000 shares of Lear stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the transaction, the chief executive officer directly owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. This trade represents a 50.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,026 shares of company stock worth $8,498,248 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Lear Price Performance

Shares of LEA opened at $141.61 on Friday. The business’s 50-day moving average is $138.51 and its two-hundred day moving average is $129.48. The company has a market capitalization of $7.09 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.73 and a beta of 1.25. Lear Corporation has a fifty-two week low of $91.67 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.12 earnings per share. Research analysts predict that Lear Corporation will post 14.81 earnings per share for the current year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, June 3rd. Lear’s dividend payout ratio is currently 30.80%.

Analyst Ratings Changes

Several research firms have recently weighed in on LEA. Citigroup lifted their target price on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on shares of Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research report on Monday. Morgan Stanley set a $130.00 price objective on Lear in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lear has a consensus rating of “Hold” and a consensus price target of $144.62.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlighted Lear as a “fast-paced momentum at a bargain” stock, suggesting the company has recent price strength while still looking attractively valued. Article Title
• Positive Sentiment: Seeking Alpha published a bullish take, “Lear Is In High Gear,” which adds to the view that investors are warming to the auto supplier’s fundamentals and momentum. Article Title
• Positive Sentiment: Another recent article framed Lear as a top growth stock for the long term, reinforcing a constructive investor outlook on LEA. Article Title
• Neutral Sentiment: Several other items in the feed were unrelated to Lear Corporation or its business and are unlikely to affect the stock.

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.