Lear (NYSE:LEA) CFO Sells $635,130.00 in Stock

Lear Corporation (NYSE:LEA) CFO Jason Cardew sold 4,500 shares of Lear stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $141.14, for a total value of $635,130.00. Following the transaction, the chief financial officer directly owned 18,241 shares in the company, valued at approximately $2,574,534.74. This trade represents a 19.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lear Trading Up 2.1%

NYSE:LEA opened at $147.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. Lear Corporation has a fifty-two week low of $86.14 and a fifty-two week high of $150.33. The stock’s 50-day moving average is $128.71 and its two-hundred day moving average is $122.79. The stock has a market cap of $7.36 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23.

Lear (NYSE:LEA) last released its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the business posted $3.12 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s payout ratio is 30.80%.

Institutional Investors Weigh In On Lear

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEA. M&T Bank Corp lifted its holdings in Lear by 46,707.8% in the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock worth $109,054,000 after purchasing an additional 949,569 shares during the last quarter. Norges Bank acquired a new stake in Lear in the 4th quarter worth approximately $82,016,000. Balyasny Asset Management L.P. acquired a new stake in Lear in the 2nd quarter worth approximately $39,656,000. Caisse de depot et placement du Quebec acquired a new stake in Lear in the 3rd quarter worth approximately $40,984,000. Finally, American Century Companies Inc. lifted its holdings in Lear by 23.6% in the 3rd quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock worth $157,891,000 after purchasing an additional 299,841 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LEA. Bank of America began coverage on Lear in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Wells Fargo & Company lifted their price target on Lear from $126.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lear 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. Finally, Benchmark began coverage on Lear in a report on Thursday, February 19th. They set a “buy” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $143.08.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: A recent Yahoo Finance article examined Lear’s valuation after the stock’s pullback, which can attract value-oriented buyers if they see the shares as inexpensive relative to earnings and cash flow. A Look At Lear (LEA) Valuation After Recent Share Price Pullback
• Positive Sentiment: Lear’s latest quarterly results were solid, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year, reinforcing the view that the auto parts company remains fundamentally healthy. Lear stock and earnings background
• Neutral Sentiment: Most of the other items in the feed were unrelated education, technology, or general market stories and do not appear to have a direct impact on Lear’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.