Lear Co. (NYSE:LEA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in shares of Lear Co. (NYSE:LEA) by 7.6% during the fourth quarter, HoldingsChannel reports. The fund owned 61,486 shares of the auto parts company’s stock after selling 5,042 shares during the quarter. Corebridge Financial Inc.’s holdings in Lear were worth $5,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Lear by 187.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after buying an additional 187 shares in the last quarter. Addison Advisors LLC grew its holdings in Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 137 shares during the period. Brooklyn Investment Group purchased a new position in Lear in the third quarter worth $34,000. UMB Bank n.a. lifted its holdings in Lear by 233.3% in the fourth quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 287 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Lear during the 3rd quarter worth $50,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Lear from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Evercore ISI reduced their price target on shares of Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Morgan Stanley lowered their price target on Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, TD Cowen downgraded Lear from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.36.

Insider Activity at Lear

In related news, Director Rod Lache bought 2,178 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares of the company’s stock, valued at approximately $199,940.40. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is owned by insiders.

Lear Price Performance

NYSE:LEA opened at $87.82 on Friday. 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 firm has a market cap of $4.71 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company’s 50-day moving average is $95.39 and its two-hundred day moving average is $98.31. Lear Co. has a 12-month low of $86.28 and a 12-month high of $145.35.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, topping 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 EPS for the current year.

Lear Announces Dividend

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

Lear Company 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.