Insider Selling: Lear (NYSE:LEA) SVP Sells 2,336 Shares of Stock

Lear Corporation (NYSE:LEA) SVP Nicholas Jon Roelli sold 2,336 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $141.38, for a total transaction of $330,263.68. Following the sale, the senior vice president directly owned 2,339 shares in the company, valued at $330,687.82. This represents a 49.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Lear Price Performance

Lear stock traded up $3.21 during trading hours on Tuesday, hitting $143.01. 156,586 shares of the stock were exchanged, compared to its average volume of 569,543. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. The stock has a market capitalization of $7.16 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.71 and a beta of 1.21. Lear Corporation has a 12 month low of $86.14 and a 12 month high of $145.00. The business’s 50-day moving average is $125.85 and its two-hundred day moving average is $121.54.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.84 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.2%. Lear’s dividend payout ratio (DPR) is currently 30.80%.

Hedge Funds Weigh In On Lear

A number of hedge funds and other institutional investors have recently bought and sold shares of LEA. Altshuler Shaham Ltd bought a new position in Lear in the fourth quarter valued at approximately $25,000. WealthCollab LLC bought a new position in Lear in the second quarter valued at approximately $28,000. Los Angeles Capital Management LLC bought a new position in Lear in the fourth quarter valued at approximately $30,000. Allworth Financial LP boosted its stake in Lear by 62.6% in the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 245 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LEA. Weiss Ratings reissued a “hold (c+)” rating on shares of Lear in a report on Monday, May 4th. Bank of America began coverage on shares of Lear in a report on Wednesday, March 4th. They issued a “neutral” rating for the company. Morgan Stanley set a $130.00 price target on shares of Lear in a report on Monday, May 4th. Royal Bank Of Canada raised their price target on shares of Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and raised their price target for the company from $138.00 to $165.00 in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Lear currently has a consensus rating of “Hold” and a consensus target price of $143.08.

About Lear

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.