High Note Wealth LLC Sells 713 Shares of Lear Co. (NYSE:LEA)

High Note Wealth LLC cut its holdings in shares of Lear Co. (NYSE:LEA) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,525 shares of the auto parts company’s stock after selling 713 shares during the period. High Note Wealth LLC’s holdings in Lear were worth $2,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of Lear by 3.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,998 shares of the auto parts company’s stock valued at $358,000 after acquiring an additional 87 shares during the last quarter. Advisor Partners II LLC raised its position in Lear by 5.0% during the 3rd quarter. Advisor Partners II LLC now owns 1,921 shares of the auto parts company’s stock worth $258,000 after purchasing an additional 91 shares during the last quarter. CIBC Asset Management Inc raised its position in Lear by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 2,152 shares of the auto parts company’s stock worth $289,000 after purchasing an additional 93 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Lear by 4.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,975 shares of the auto parts company’s stock worth $265,000 after purchasing an additional 93 shares during the last quarter. Finally, Inspire Investing LLC raised its position in Lear by 4.6% during the 3rd quarter. Inspire Investing LLC now owns 2,282 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 101 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LEA. Barclays decreased their price target on Lear from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Morgan Stanley increased their price target on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Benchmark increased their price target on Lear from $188.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. decreased their price target on Lear from $195.00 to $179.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Finally, Wells Fargo & Company raised their target price on Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.89.

Lear Price Performance

LEA stock opened at $144.85 on Thursday. Lear Co. has a 52-week low of $117.79 and a 52-week high of $157.90. The business has a 50-day simple moving average of $137.14 and a two-hundred day simple moving average of $135.49. 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 company has a market capitalization of $8.26 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 0.34 and a beta of 1.53.

Lear (NYSE:LEA) last posted its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.09). Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same period in the prior year, the business earned $2.81 EPS. Lear’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts expect that Lear Co. will post 14.64 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, March 7th. This represents a $3.08 annualized dividend and a dividend yield of 2.13%. Lear’s dividend payout ratio is currently 31.82%.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $132.86, for a total value of $1,415,224.72. Following the sale, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jason M. Cardew sold 2,750 shares of Lear stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares in the company, valued at approximately $2,465,019.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares of the company’s stock, valued at $1,810,483.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,379 shares of company stock valued at $2,205,121. 0.75% of the stock is owned by company insiders.

About Lear

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.