SG Americas Securities LLC Reduces Holdings in Lear Corporation $LEA

SG Americas Securities LLC reduced its position in shares of Lear Corporation (NYSE:LEA) by 36.2% during the first quarter, HoldingsChannel reports. The firm owned 16,658 shares of the auto parts company’s stock after selling 9,466 shares during the quarter. SG Americas Securities LLC’s holdings in Lear were worth $2,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in Lear by 5,205.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after buying an additional 7,131 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Lear during the first quarter worth about $267,000. Empowered Funds LLC purchased a new stake in shares of Lear during the first quarter worth about $256,000. EverSource Wealth Advisors LLC lifted its stake in shares of Lear by 37.1% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock worth $92,000 after acquiring an additional 262 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Lear by 9.5% in the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock worth $408,000 after acquiring an additional 372 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Lear from $133.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. UBS Group cut their target price on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada increased their target price on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Citigroup raised their price target on shares of Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $143.38.

Lear News Summary

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: No material Lear-specific news was reported in the supplied articles, suggesting the stock’s move is likely being driven by broader market factors or normal trading activity rather than a fresh company announcement.
• Neutral Sentiment: Earlier background remains supportive: Lear recently reported quarterly EPS of $3.87, beating estimates, while revenue came in roughly in line with expectations and sales were up year over year, which may continue to underpin investor sentiment.

Insider Buying and Selling

In related news, SVP Nicholas Jon Roelli sold 2,336 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $141.38, for a total transaction of $330,263.68. Following the completion of the transaction, the senior vice president owned 2,339 shares in the company, valued at $330,687.82. The trade was a 49.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Raymond E. Scott sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the transaction, the chief executive officer owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 62,026 shares of company stock worth $8,498,248. Company insiders own 1.02% of the company’s stock.

Lear Stock Down 2.6%

Shares of NYSE:LEA opened at $130.53 on Thursday. The company’s fifty day moving average is $137.20 and its two-hundred day moving average is $127.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. Lear Corporation has a 1-year low of $91.67 and a 1-year high of $150.33. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.12 EPS. Equities analysts anticipate that Lear Corporation will post 14.64 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, June 3rd. Lear’s dividend payout ratio is presently 30.80%.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.