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

Corient Private Wealth LLC reduced its stake in shares of Lear Co. (NYSE:LEA - Free Report) by 28.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LEA. Royce & Associates LP bought a new stake in Lear during the 4th quarter valued at $10,401,000. Natixis Advisors LLC grew its stake in Lear by 57.4% during the fourth quarter. Natixis Advisors LLC now owns 72,394 shares of the auto parts company's stock valued at $6,856,000 after acquiring an additional 26,396 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Lear by 31.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,601 shares of the auto parts company's stock worth $436,000 after acquiring an additional 1,089 shares during the period. Vestcor Inc purchased a new stake in Lear in the 4th quarter worth approximately $413,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Lear by 247.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 788 shares of the auto parts company's stock worth $75,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insider Activity

In other Lear news, Director Rod Lache bought 2,178 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the transaction, the director now owns 2,178 shares of the company's stock, valued at $199,940.40. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company's stock.

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Lear Stock Performance

NYSE LEA traded down $0.36 on Wednesday, hitting $95.54. 146,515 shares of the company traded hands, compared to its average volume of 695,530. The business's 50 day moving average price is $95.55 and its 200-day moving average price is $98.58. Lear Co. has a 52-week low of $86.28 and a 52-week high of $146.19. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.49 and a beta of 1.44.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating 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%. Equities analysts expect that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be paid a $0.77 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.22%. Lear's dividend payout ratio (DPR) is presently 34.45%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEA shares. Evercore ISI lowered their price objective on shares of Lear from $125.00 to $110.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Morgan Stanley cut their price objective on Lear from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Cowen downgraded Lear from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on Lear from $147.00 to $143.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, UBS Group decreased their target price on shares of Lear from $104.00 to $102.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.