That's a beetle. It looks like a Japanese Beetle. Trees/fruits could get impacted from the adults, but not the lawn. They lay eggs and the larvae are a problem for the lawn. The larvae will grow and become a grub eating the roots of your grass.
More info here: https://extension.entm.purdue.edu/publications/E-75.pdf
Prevention options for grub damage here:
Thanks for your informative response. If I already missed the window to apply grub control earlier this spring can you advise of what specific product I should apply after summer and when specifically ? If it should make a difference in what product to apply I would like to over seed my lawn in early September timeframe. I live in state of New Jersey.
You only missed the window for Scott GrubEx. The rest are still possible. Try to read the second link in detail. Mainly this part: "There is an erroneous philosophy being perpetuated that because we have European chafers and Japanese beetles in the area, it is necessary to treat every year or your lawn will be damaged by grubs. This is not true."
To my knowledge, there is no impact into an overseed of using these products.
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