Hsbc Holdings PLC Trims Holdings in Lear Corporation $LEA

Hsbc Holdings PLC reduced its holdings in shares of Lear Corporation (NYSE:LEA) by 42.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,049 shares of the auto parts company’s stock after selling 10,447 shares during the period. Hsbc Holdings PLC’s holdings in Lear were worth $1,610,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of Lear by 15.0% in the fourth quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after buying an additional 88 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of Lear by 4.5% during the fourth quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock worth $246,000 after buying an additional 92 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Lear by 4.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock valued at $274,000 after acquiring an additional 99 shares during the period. Allworth Financial LP increased its position in Lear by 32.0% in the 4th quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock valued at $47,000 after acquiring an additional 99 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Lear by 2.1% during the 4th quarter. Advisors Asset Management Inc. now owns 5,899 shares of the auto parts company’s stock valued at $676,000 after acquiring an additional 121 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Lear Trading Up 0.0%

NYSE:LEA opened at $133.83 on Wednesday. Lear Corporation has a 1 year low of $91.67 and a 1 year high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. The stock has a fifty day moving average price of $137.17 and a two-hundred day moving average price of $127.85. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.68 and a beta of 1.23.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.12 EPS. As a group, sell-side analysts anticipate that Lear Corporation will post 14.64 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $3.08 annualized dividend and a yield of 2.3%. Lear’s dividend payout ratio is 30.80%.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear said the StoneShield acquisition should strengthen its automation capabilities, which could support efficiency, manufacturing flexibility, and longer-term margin improvement. Lear expands automation capabilities with StoneShield acquisition
• Neutral Sentiment: Several unrelated articles in the feed covered learning software, AI in education, and crypto topics, with no direct impact on Lear’s core auto parts business.

Analysts Set New Price Targets

LEA has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on shares of Lear from $152.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Barclays boosted their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. TD Cowen upgraded shares of Lear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $138.00 to $165.00 in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised their target price on shares of Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $143.38.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. This represents a 27.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Raymond E. Scott sold 50,000 shares of Lear stock in a transaction that occurred 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 $6,739,936.93. This represents a 50.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,026 shares of company stock valued at $8,498,248 in the last quarter. Insiders own 1.02% of the company’s stock.

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.