Truist Financial Corp Decreases Holdings in Lear Co. (NYSE:LEA)

Truist Financial Corp reduced its position in Lear Co. (NYSE:LEA) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,802 shares of the auto parts company’s stock after selling 1,586 shares during the quarter. Truist Financial Corp’s holdings in Lear were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LEA. Pacer Advisors Inc. raised its position in Lear by 11,753.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after purchasing an additional 1,008,200 shares during the period. Pzena Investment Management LLC grew its stake in Lear by 15.2% in the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after acquiring an additional 504,091 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Lear by 115.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company’s stock worth $64,083,000 after acquiring an additional 300,667 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after acquiring an additional 238,964 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Trading Up 1.8 %

Shares of Lear stock opened at $106.99 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The firm has a fifty day moving average price of $110.19 and a 200 day moving average price of $120.13. Lear Co. has a 1 year low of $101.67 and a 1 year high of $147.11. The stock has a market cap of $6.08 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.34 by $0.26. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $3.33 earnings per share. Equities research analysts predict that Lear Co. will post 12.49 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Wednesday, September 4th were given a dividend of $0.77 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a yield of 2.88%. Lear’s payout ratio is presently 33.59%.

Wall Street Analysts Forecast Growth

LEA has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Barclays dropped their price objective on shares of Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Evercore ISI dropped their price objective on shares of Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Lear has an average rating of “Moderate Buy” and a consensus price target of $147.91.

Lear Company 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.