Lear (LEA)

• Market cap: $5.96B
• Sector: Consumer Discretionary
• Industry: Motor Vehicle Parts & Accessories

About: Lear designs, develops, and manufactures automotive seating and electrical systems and components. Seating components include frames and mechanisms, covers (leather and woven fabric), seat heating and cooling, foam, and headrests. Automotive electrical distribution and connection systems and electronic systems include wiring harnesses, terminals and connectors, on-board battery chargers, high-voltage battery management systems, high-voltage power distribution systems, domain controllers, telematics control units, gateway modules, vehicle positioning for automated and autonomous driving, embedded control software, cloud and mobile device software and services, and cybersecurity. Lear's largest customer and regional market is GM and North America at 20% and 44% of 2022 revenue, respectively.

Employees: 186,600

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

100% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 2 (+1) [Q2]

0.91% more ownership

Funds ownership: 101.34% [Q1] → 102.24% (+0.91%) [Q2]

7% less funds holding

Funds holding: 471 [Q1] → 436 (-35) [Q2]

20% less call options, than puts

Call options by funds: $19.2M | Put options by funds: $24.1M

21% less capital invested

Capital invested by funds: $8.37B [Q1] → $6.63B (-$1.74B) [Q2]

21% less repeat investments, than reductions

Existing positions increased: 138 | Existing positions reduced: 175

34% less first-time investments, than exits

New positions opened: 69 | Existing positions closed: 104

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $114 8% upside
• Avg. target: $147 39% upside
• High target: $185 75% upside

11 analyst ratings

• positive: 8 73%
• neutral: 3 27%
• negative: 0 0%

Barclays Dan Levy 48% 1-year accuracy 13 / 27 met price target	32% upside $140	Overweight Maintained	15 Oct 2024
B of A Securities John Murphy 53% 1-year accuracy 20 / 38 met price target	60% upside $170	Buy Maintained	14 Oct 2024
Goldman Sachs Mark Delaney 59% 1-year accuracy 16 / 27 met price target	27% upside $135	Buy Maintained	1 Oct 2024
Morgan Stanley Adam Jonas 46% 1-year accuracy 30 / 65 met price target	37% upside $145	Overweight Maintained	25 Sept 2024
Wells Fargo Colin Langan 18% 1-year accuracy 5 / 28 met price target	8% upside $114	Equal-Weight Maintained	20 Sept 2024