High Note Wealth LLC Has $34,000 Holdings in Lear Corporation $LEA

High Note Wealth LLC reduced its holdings in Lear Corporation (NYSE:LEA) by 66.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355 shares of the auto parts company’s stock after selling 719 shares during the quarter. High Note Wealth LLC’s holdings in Lear were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LEA. WPG Advisers LLC acquired a new position in shares of Lear in the 1st quarter worth approximately $39,000. Fifth Third Bancorp raised its position in Lear by 131.8% in the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after purchasing an additional 435 shares during the last quarter. CX Institutional acquired a new position in Lear during the 1st quarter worth $71,000. GAMMA Investing LLC lifted its holdings in Lear by 57.9% during the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock worth $83,000 after buying an additional 344 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its holdings in Lear by 955.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after buying an additional 1,003 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup upped their price objective on Lear from $123.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a report on Saturday, September 27th. Wells Fargo & Company reduced their price objective on Lear from $113.00 to $108.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. Finally, Wall Street Zen lowered shares of Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.70.

Lear Stock Performance

Shares of Lear stock opened at $99.46 on Wednesday. The firm has a fifty day moving average of $103.53 and a two-hundred day moving average of $95.79. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.80 and a beta of 1.32. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $113.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the previous year, the company posted $3.60 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Lear Corporation will post 12.89 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Wednesday, September 3rd were given a $0.77 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.1%. Lear’s dividend payout ratio is currently 35.94%.

Insiders Place Their Bets

In related news, CFO Jason M. Cardew sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Raymond E. Scott sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the sale, the chief executive officer owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This represents a 11.43% decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.

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.