First Horizon Advisors Inc. Sells 136 Shares of Lear Co. (NYSE:LEA)

First Horizon Advisors Inc. lowered its stake in shares of Lear Co. (NYSE:LEA) by 15.4% during the fourth quarter, Holdings Channel reports. The fund owned 749 shares of the auto parts company’s stock after selling 136 shares during the period. First Horizon Advisors Inc.’s holdings in Lear were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning lifted its position in Lear by 7.6% during the 3rd quarter. Creative Planning now owns 5,133 shares of the auto parts company’s stock valued at $560,000 after purchasing an additional 363 shares during the period. Blue Trust Inc. lifted its position in Lear by 240.4% during the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 214 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Lear by 8.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock valued at $251,000 after purchasing an additional 184 shares during the period. Signaturefd LLC lifted its position in Lear by 71.6% during the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Lear by 24.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 66,098 shares of the auto parts company’s stock valued at $7,376,000 after purchasing an additional 13,097 shares during the period. Institutional investors own 97.04% of the company’s stock.

Lear Stock Performance

Shares of LEA stock opened at $96.43 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. The company has a market capitalization of $5.17 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.42. The company’s 50 day moving average price is $95.11 and its two-hundred day moving average price is $101.15. Lear Co. has a 52 week low of $86.28 and a 52 week high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, analysts expect that Lear Co. will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.08 annualized dividend and a dividend yield of 3.19%. Lear’s dividend payout ratio is currently 34.45%.

Wall Street Analyst Weigh In

LEA has been the topic of a number of research reports. Barclays cut their target price on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. UBS Group cut their price target on shares of Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Finally, Evercore ISI cut their price target on shares of Lear from $125.00 to $110.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $127.00.

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.