Lear Corporation $LEA Shares Sold by Deutsche Bank AG

Deutsche Bank AG lowered its holdings in Lear Corporation (NYSE:LEA) by 25.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,117 shares of the auto parts company’s stock after selling 9,423 shares during the quarter. Deutsche Bank AG owned 0.05% of Lear worth $2,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in Lear during the 4th quarter worth about $58,000. Fifth Third Bancorp boosted its stake in shares of Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after buying an additional 435 shares during the last quarter. CX Institutional acquired a new stake in Lear during the first quarter worth about $71,000. GAMMA Investing LLC raised its position in Lear by 57.9% during the first quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock valued at $83,000 after acquiring an additional 344 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Lear by 46.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 966 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 307 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on LEA. Barclays raised their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Citigroup increased their target price on shares of Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Morgan Stanley cut their price target on Lear from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Lear presently has an average rating of “Hold” and an average price target of $113.00.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the sale, the chief executive officer owned 38,729 shares of the company’s stock, valued at $3,747,805.33. This represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the transaction, the director directly owned 84 shares in the company, valued at approximately $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,187 shares of company stock valued at $1,086,425 over the last 90 days. 0.91% of the stock is currently owned by corporate insiders.

Lear Trading Up 0.5%

Shares of Lear stock opened at $103.05 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $119.10. The firm has a market capitalization of $5.48 billion, a PE ratio of 12.02, a P/E/G ratio of 0.62 and a beta of 1.30. The firm’s 50-day moving average price is $99.10 and its 200 day moving average price is $93.26.

Lear (NYSE:LEA) last announced its earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.24. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Lear’s payout ratio is 35.94%.

About Lear

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.