Truist Financial Corp Sells 704 Shares of Lear Corporation $LEA

Truist Financial Corp lessened its holdings in shares of Lear Corporation (NYSE:LEA) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,167 shares of the auto parts company’s stock after selling 704 shares during the quarter. Truist Financial Corp’s holdings in Lear were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEA. 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. Fifth Third Bancorp raised its position in Lear by 131.8% during the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock valued at $67,000 after acquiring an additional 435 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Lear by 88.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the auto parts company’s stock valued at $640,000 after acquiring an additional 3,409 shares in the last quarter. State of Alaska Department of Revenue raised its position in Lear by 62.3% during the first quarter. State of Alaska Department of Revenue now owns 26,283 shares of the auto parts company’s stock valued at $2,318,000 after acquiring an additional 10,085 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Lear by 14.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,912 shares of the auto parts company’s stock valued at $433,000 after acquiring an additional 613 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Insider Buying and Selling at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the sale, the chief financial officer owned 20,244 shares of the company’s stock, valued at $1,993,426.68. The trade was a 19.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the business’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 directly owned 38,729 shares in the company, valued at $3,747,805.33. This trade represents a 11.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Lear Trading Up 0.3%

Shares of LEA stock opened at $100.11 on Thursday. The firm has a market capitalization of $5.33 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.79 and a beta of 1.32. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $104.13 and its 200 day simple moving average is $96.01. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10.

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

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Wednesday, September 3rd were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 3rd. Lear’s payout ratio is 35.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $123.00 in a research report on Wednesday, September 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research report on Wednesday, October 8th. Citigroup reissued a “neutral” rating on shares of Lear in a research report on Tuesday. The Goldman Sachs Group set a $104.00 price target on shares of Lear in a research report on Monday, September 29th. Finally, Wall Street Zen raised shares of Lear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.70.

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.