Danske Bank A S Sells 8,074 Shares of Lear Corporation $LEA

Key Points

• Danske Bank A S sharply reduced its Lear stake in the fourth quarter, selling 8,074 shares and cutting its position by 95.3% to just 400 shares worth about $46,000.
• Lear beat earnings expectations for the latest quarter, reporting EPS of $3.87 versus estimates of $3.51, while revenue rose 4.7% year over year to $5.82 billion.
• Analyst sentiment remains cautious overall, with the stock carrying an average “Hold” rating and an average price target of $139.38, even as Lear trades near its 52-week high.

Danske Bank A S decreased its holdings in shares of Lear Corporation (NYSE:LEA - Free Report) by 95.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the auto parts company's stock after selling 8,074 shares during the quarter. Danske Bank A S's holdings in Lear were worth $46,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEA. Pallas Capital Advisors LLC raised its position in shares of Lear by 4.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company's stock valued at $274,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Lear by 34.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company's stock worth $42,000 after buying an additional 107 shares during the period. Allworth Financial LP boosted its holdings in shares of Lear by 62.6% during the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company's stock worth $31,000 after buying an additional 119 shares during the period. Lakewood Asset Management LLC grew its stake in Lear by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 13,644 shares of the auto parts company's stock valued at $1,564,000 after buying an additional 132 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Lear by 10.8% in the 4th quarter. Signaturefd LLC now owns 1,840 shares of the auto parts company's stock valued at $211,000 after buying an additional 179 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Lear from $145.00 to $135.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. The Goldman Sachs Group upped their target price on Lear from $115.00 to $131.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Lear in a research note on Monday. Bank of America began coverage on Lear in a report on Wednesday, March 4th. They set a "neutral" rating for the company. Finally, Barclays boosted their price target on Lear from $140.00 to $150.00 and gave the company an "equal weight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $139.38.

Lear Price Performance

Shares of Lear stock opened at $139.70 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. Lear Corporation has a twelve month low of $86.14 and a twelve month high of $142.84. The company has a 50-day simple moving average of $122.94 and a two-hundred day simple moving average of $118.74.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the business posted $3.12 EPS. The business's revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Lear Corporation will post 14.56 EPS for the current year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 5th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. Lear's dividend payout ratio is currently 30.80%.

Insider Buying and Selling

In other news, VP Marianne Vidershain sold 1,590 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total transaction of $214,650.00. Following the completion of the sale, the vice president directly owned 1,862 shares in the company, valued at approximately $251,370. This represents a 46.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Alicia J. Davis sold 6,630 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $132.98, for a total value of $881,657.40. Following the sale, the senior vice president directly owned 9,972 shares in the company, valued at approximately $1,326,076.56. This trade represents a 39.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,264 shares of company stock worth $3,400,687 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.

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