Raymond James Trust N.A. Sells 951 Shares of Lear Co. (NYSE:LEA)

Posted by on Apr 27th, 2023

Raymond James Trust N.A. lowered its position in shares of Lear Co. (NYSE:LEA – Get Rating) by 33.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,862 shares of the auto parts company’s stock after selling 951 shares during the quarter. Raymond James Trust N.A.’s holdings in Lear were worth $231,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Old North State Trust LLC bought a new position in shares of Lear during the 3rd quarter worth about $28,000. Allworth Financial LP boosted its position in shares of Lear by 2,027.3% during the 4th quarter. Allworth Financial LP now owns 234 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 223 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Lear by 44.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Lear by 28.8% during the 3rd quarter. IFP Advisors Inc now owns 545 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 122 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Lear during the 3rd quarter worth about $72,000. Institutional investors own 99.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lear from $143.00 to $135.00 in a research report on Friday, February 3rd. TheStreet raised shares of Lear from a “c+” rating to a “b” rating in a research report on Thursday, February 2nd. Barclays started coverage on shares of Lear in a research report on Tuesday, February 14th. They issued an “equal weight” rating and a $155.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Lear from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Finally, StockNews.com started coverage on shares of Lear in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $155.69.

Insider Transactions at Lear

In other news, SVP Alicia J. Davis sold 1,390 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $144.62, for a total transaction of $201,021.80. Following the completion of the sale, the senior vice president now owns 3,341 shares in the company, valued at approximately $483,175.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Alicia J. Davis sold 1,390 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $144.62, for a total transaction of $201,021.80. Following the completion of the sale, the senior vice president now owns 3,341 shares in the company, valued at approximately $483,175.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Carl A. Esposito sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $142.00, for a total transaction of $1,136,000.00. Following the sale, the senior vice president now owns 19,415 shares of the company’s stock, valued at approximately $2,756,930. The disclosure for this sale can be found here. Insiders sold a total of 32,178 shares of company stock worth $4,481,445 in the last quarter. Insiders own 0.67% of the company’s stock.

Lear Trading Down 0.4 %

NYSE:LEA opened at $130.97 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.35. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.32 and a beta of 1.54. Lear Co. has a 52 week low of $114.67 and a 52 week high of $158.44. The firm has a 50-day moving average price of $137.32 and a two-hundred day moving average price of $135.45.

Lear (NYSE:LEA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The auto parts company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.27. Lear had a net margin of 1.57% and a return on equity of 11.22%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the business posted $1.22 EPS. Lear’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Lear Co. will post 10.95 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Stockholders of record on Friday, March 10th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $3.08 annualized dividend and a dividend yield of 2.35%. Lear’s payout ratio is currently 56.31%.

Lear Profile

(Get Rating)

Lear Corp. engages in the design, manufacture and supply of automotive seats, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.

Featured Stories

Institutional Ownership by Quarter for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.