Lear Co. (NYSE:LEA) Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Lear Co. (NYSE:LEA) by 72.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,828 shares of the auto parts company’s stock after selling 4,827 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lear were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LEA. Perennial Advisors LLC increased its holdings in shares of Lear by 1.2% in the 4th quarter. Perennial Advisors LLC now owns 29,407 shares of the auto parts company’s stock valued at $4,152,000 after purchasing an additional 352 shares during the period. International Assets Investment Management LLC purchased a new stake in Lear in the 4th quarter worth approximately $1,356,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Lear by 0.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 14,584 shares of the auto parts company’s stock valued at $2,046,000 after buying an additional 136 shares during the period. Advisors Preferred LLC purchased a new position in shares of Lear during the 4th quarter valued at $2,814,000. Finally, Trust Point Inc. acquired a new position in shares of Lear in the fourth quarter worth $215,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Price Performance

NYSE LEA opened at $136.47 on Friday. Lear Co. has a 1 year low of $117.79 and a 1 year high of $157.90. The company has a fifty day simple moving average of $138.81 and a 200 day simple moving average of $135.86. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.77 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.33 and a beta of 1.54.

Lear (NYSE:LEA) last released its quarterly earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). Lear had a net margin of 2.44% and a return on equity of 14.09%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter last year, the company earned $2.81 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that Lear Co. will post 14.51 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, March 7th. Lear’s dividend payout ratio is currently 31.82%.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction 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 in the company, valued at $1,810,483.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lear news, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction 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 directly owns 13,627 shares in the company, valued at approximately $1,810,483.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LEA shares. Wells Fargo & Company boosted 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. Benchmark increased their price objective on Lear from $188.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Barclays raised their price objective on shares of Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.44.

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.