Corebridge Financial Inc. Trims Holdings in Lear Co. (NYSE:LEA)

Corebridge Financial Inc. lowered its stake in shares of Lear Co. (NYSE:LEA) by 7.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,486 shares of the auto parts company’s stock after selling 5,042 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Lear worth $5,823,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LEA. Charles Schwab Investment Management Inc. boosted its position in shares of Lear by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 467,863 shares of the auto parts company’s stock worth $51,067,000 after buying an additional 12,379 shares during the period. Brooklyn Investment Group purchased a new position in Lear during the 3rd quarter valued at about $34,000. BNP Paribas Financial Markets grew its position in Lear by 405.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,356 shares of the auto parts company’s stock valued at $5,606,000 after acquiring an additional 41,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lear by 23.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,701 shares of the auto parts company’s stock worth $1,386,000 after purchasing an additional 2,423 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Lear by 68.5% during the third quarter. Hantz Financial Services Inc. now owns 77,594 shares of the auto parts company’s stock worth $8,469,000 after purchasing an additional 31,536 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LEA shares. Wells Fargo & Company upped their target price on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Cowen lowered Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their target price on Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, January 27th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Barclays decreased their price objective on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lear currently has a consensus rating of “Hold” and a consensus target price of $123.36.

Insider Buying and Selling at Lear

In other Lear news, Director Rod Lache acquired 2,178 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the purchase, the director now owns 2,178 shares in the company, valued at $199,940.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by company insiders.

Lear Stock Down 1.7 %

LEA stock opened at $87.82 on Friday. The company’s 50 day moving average is $95.39 and its two-hundred day moving average is $98.31. Lear Co. has a twelve month low of $86.28 and a twelve month high of $145.35. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market cap of $4.71 billion, a P/E ratio of 9.82, a PEG ratio of 0.49 and a beta of 1.44.

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

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, March 6th. Lear’s dividend payout ratio (DPR) is 34.45%.

Lear Profile

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.