abrdn plc Sells 9,075 Shares of Lear Co. (NYSE:LEA)

abrdn plc cut its holdings in Lear Co. (NYSE:LEAGet Rating) by 59.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,198 shares of the auto parts company’s stock after selling 9,075 shares during the period. abrdn plc’s holdings in Lear were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LEA. Arizona State Retirement System increased its position in Lear by 2.0% in the 1st quarter. Arizona State Retirement System now owns 16,595 shares of the auto parts company’s stock valued at $2,366,000 after buying an additional 329 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Lear by 3.1% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 34,351 shares of the auto parts company’s stock valued at $4,898,000 after buying an additional 1,026 shares in the last quarter. Mutual of America Capital Management LLC increased its position in Lear by 2.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 54,441 shares of the auto parts company’s stock valued at $7,763,000 after buying an additional 1,120 shares in the last quarter. Signaturefd LLC increased its position in Lear by 81.1% in the 1st quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock valued at $34,000 after buying an additional 107 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Lear by 21.9% in the 1st quarter. SG Americas Securities LLC now owns 36,177 shares of the auto parts company’s stock valued at $5,158,000 after buying an additional 6,507 shares in the last quarter. 95.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LEA. Royal Bank of Canada cut their price target on Lear from $163.00 to $151.00 in a research note on Wednesday, May 4th. BNP Paribas upgraded Lear from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $117.00 to $140.00 in a research note on Monday, July 11th. Bank of America upgraded Lear from an “underperform” rating to a “buy” rating and lifted their price target for the company from $150.00 to $195.00 in a research note on Wednesday, April 6th. Barclays cut their price target on Lear from $161.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Finally, Wells Fargo & Company cut their target price on Lear from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Lear has a consensus rating of “Hold” and an average target price of $168.27.

Lear Trading Up 2.5 %

Shares of LEA stock opened at $155.21 on Wednesday. The company’s fifty day simple moving average is $134.53 and its two-hundred day simple moving average is $142.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.36 and a quick ratio of 1.04. Lear Co. has a 1 year low of $118.38 and a 1 year high of $195.43. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 42.76, a PEG ratio of 0.49 and a beta of 1.48.

Lear (NYSE:LEAGet Rating) last issued its earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.45. Lear had a net margin of 1.15% and a return on equity of 7.51%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the firm posted $2.45 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Lear Co. will post 8.32 earnings per share for the current year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Stockholders of record on Friday, June 10th were issued a $0.77 dividend. The ex-dividend date was Thursday, June 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.98%. Lear’s payout ratio is currently 84.85%.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 6,143 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $127.83, for a total value of $785,259.69. Following the transaction, the chief executive officer now owns 47,954 shares of the company’s stock, valued at $6,129,959.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Raymond E. Scott sold 6,143 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $127.83, for a total value of $785,259.69. Following the transaction, the chief executive officer now owns 47,954 shares of the company’s stock, valued at $6,129,959.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Conrad L. Mallett, Jr. sold 764 shares of the company’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $130.74, for a total transaction of $99,885.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,240 shares of company stock valued at $2,797,188. 0.67% of the stock is currently owned by company insiders.

About Lear

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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.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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