Deutsche Bank AG Sells 2,952 Shares of Lear Co. (NYSE:LEA)

Posted by Defense World Staff on Jun 11th, 2023

Deutsche Bank AG trimmed its holdings in shares of Lear Co. (NYSE:LEA – Get Rating) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 459,877 shares of the auto parts company’s stock after selling 2,952 shares during the period. Deutsche Bank AG owned approximately 0.78% of Lear worth $57,034,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jade Capital Advisors LLC bought a new position in shares of Lear during the 4th quarter worth about $2,108,000. Barclays PLC increased its position in shares of Lear by 31.7% during the 4th quarter. Barclays PLC now owns 58,397 shares of the auto parts company’s stock worth $7,242,000 after purchasing an additional 14,053 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Lear during the 4th quarter worth about $4,179,000. The Manufacturers Life Insurance Company increased its position in shares of Lear by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 51,801 shares of the auto parts company’s stock worth $6,424,000 after purchasing an additional 1,160 shares in the last quarter. Finally, ExodusPoint Capital Management LP increased its position in shares of Lear by 77.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 24,187 shares of the auto parts company’s stock worth $3,000,000 after purchasing an additional 10,519 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LEA shares. Wells Fargo & Company dropped their target price on shares of Lear from $146.00 to $141.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. BNP Paribas upgraded shares of Lear from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 1st. Citigroup dropped their target price on shares of Lear from $143.00 to $140.00 in a research report on Monday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lear from $136.00 to $137.00 in a research report on Friday, April 28th. Finally, StockNews.com initiated coverage on shares of Lear in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.23.

Insider Buying and Selling at Lear

In other news, Director Greg C. Smith sold 2,221 shares of Lear stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $124.93, for a total value of $277,469.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Conrad L. Mallett, Jr. sold 330 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $126.06, for a total transaction of $41,599.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg C. Smith sold 2,221 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $124.93, for a total transaction of $277,469.53. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Lear Stock Up 2.5 %

Lear stock opened at $138.11 on Friday. The company’s 50 day simple moving average is $129.30 and its 200 day simple moving average is $133.67. Lear Co. has a fifty-two week low of $114.67 and a fifty-two week high of $158.44. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 0.34 and a beta of 1.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05.

Lear (NYSE:LEA – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The auto parts company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.23. Lear had a net margin of 1.96% and a return on equity of 12.32%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter last year, the firm earned $1.80 EPS. Lear’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lear Co. will post 11.08 EPS for the current year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Friday, June 9th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, June 8th. Lear’s payout ratio is currently 43.63%.

About Lear

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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.