Lear (NYSE:LEA) Director Sells $26,854.60 in Stock

Lear Corporation (NYSE:LEA) Director Conrad Mallett, Jr. sold 190 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the transaction, the director directly owned 1,683 shares of the company’s stock, valued at approximately $237,875.22. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Lear Stock Down 0.9%

Shares of NYSE LEA opened at $140.93 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.72 and a beta of 1.23. Lear Corporation has a 12 month low of $89.29 and a 12 month high of $150.33. The stock has a 50-day moving average price of $132.19 and a two-hundred day moving average price of $124.73.

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 firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 earnings per share. As a group, analysts forecast that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. Lear’s payout ratio is 30.80%.

Key Lear News

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: Lear Corporation presented at the Wells Fargo Industrials & Materials Conference, keeping investors updated on the business, but the transcript does not indicate a major new earnings, guidance, or strategic announcement. Lear Corporation (LEA) Presents at 16th Annual Wells Fargo Industrials & Materials Conference Transcript

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in shares of Lear during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in shares of Lear during the 4th quarter worth approximately $30,000. Global Retirement Partners LLC boosted its holdings in shares of Lear by 942.3% during the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock worth $31,000 after buying an additional 245 shares in the last quarter. WealthCollab LLC bought a new position in shares of Lear during the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP raised its position in shares of Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEA shares. TD Cowen upgraded Lear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $138.00 to $165.00 in a report on Tuesday, May 26th. Citigroup boosted their price target on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a report on Monday, May 4th. Bank of America initiated coverage on Lear in a report on Wednesday, March 4th. They set a “neutral” rating on the stock. Finally, UBS Group reduced their target price on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.08.

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.