Corient Private Wealth LLC Decreases Stock Holdings in Lear Co. (NYSE:LEA)

Corient Private Wealth LLC cut its holdings in shares of Lear Co. (NYSE:LEA) by 28.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,833 shares of the auto parts company’s stock after selling 7,202 shares during the period. Corient Private Wealth LLC’s holdings in Lear were worth $1,689,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 187 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Lear in the 3rd quarter worth approximately $34,000. Addison Advisors LLC increased its stake in Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Lear by 233.3% during the fourth quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock worth $39,000 after buying an additional 287 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Lear during the third quarter valued at $50,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Up 2.6 %

LEA opened at $96.72 on Tuesday. The company has a fifty day moving average of $95.50 and a two-hundred day moving average of $98.69. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.49 and a beta of 1.44. Lear Co. has a fifty-two week low of $86.28 and a fifty-two week high of $147.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, research analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, March 6th. Lear’s dividend payout ratio is presently 34.45%.

Insider Transactions at Lear

In related news, Director Rod Lache purchased 2,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $91.80 per share, with a total value of $199,940.40. Following the purchase, the director now owns 2,178 shares of the company’s stock, valued at $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

LEA has been the subject of a number of research analyst reports. Evercore ISI reduced their target price on Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Morgan Stanley reduced their price objective on Lear from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Cowen lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Barclays decreased their price objective on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.36.

Lear Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.