Lear Corporation (NYSE:LEA – Get Free Report) CFO Jason Cardew sold 4,500 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $141.14, for a total transaction of $635,130.00. Following the completion of the transaction, the chief financial officer directly owned 18,241 shares of the company’s stock, valued at approximately $2,574,534.74. The trade was a 19.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lear Trading Down 1.9%
Shares of NYSE LEA opened at $141.29 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. Lear Corporation has a 52-week low of $88.04 and a 52-week high of $150.33. The firm has a 50 day moving average price of $130.77 and a two-hundred day moving average price of $123.72. The stock has a market cap of $7.08 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23.
Lear (NYSE:LEA – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the company posted $3.12 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Lear Corporation will post 14.61 EPS for the current year.
Lear Announces Dividend
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in LEA. Dimensional Fund Advisors LP increased its holdings in Lear by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,943,480 shares of the auto parts company’s stock worth $356,380,000 after buying an additional 107,678 shares during the last quarter. Schroder Investment Management Group increased its holdings in Lear by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 1,830,466 shares of the auto parts company’s stock worth $212,938,000 after buying an additional 5,409 shares during the last quarter. American Century Companies Inc. increased its holdings in Lear by 23.6% during the third quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock worth $157,891,000 after buying an additional 299,841 shares during the last quarter. M&T Bank Corp increased its holdings in Lear by 46,707.8% during the fourth quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock worth $109,054,000 after buying an additional 949,569 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Lear by 7.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 791,293 shares of the auto parts company’s stock worth $90,682,000 after buying an additional 57,206 shares during the last quarter. 97.04% of the stock is owned by institutional investors.
Key Headlines Impacting Lear
Here are the key news stories impacting Lear this week:
- Positive Sentiment: Lear’s most recent earnings report beat EPS expectations and showed year-over-year revenue growth, reinforcing the view that fundamentals are improving and helping support the stock near its highs.
- Positive Sentiment: The company recently declared a quarterly dividend of $0.77 per share, signaling ongoing cash generation and shareholder returns, which can support investor confidence.
- Neutral Sentiment: Lear announced it will participate in a Wolfe Research Autos and Mobility Conference on June 18. This is an investor-relations event and may draw attention to the stock, but it does not change fundamentals by itself. Article Title: Lear to Participate in Wolfe Research Autos and Mobility Conference
- Neutral Sentiment: Insider selling by CFO Jason Cardew was disclosed, but the sale was relatively small versus his remaining holdings, so it is more of a cautionary signal than a major red flag.
- Negative Sentiment: The CFO’s share sale could create some short-term caution after the stock’s strong run, as some investors may wonder whether insider confidence is limited at current levels.
Analysts Set New Price Targets
LEA has been the topic of a number of research reports. Benchmark started coverage on Lear in a research report on Thursday, February 19th. They set a “buy” rating and a $170.00 target price on the stock. Royal Bank Of Canada increased their target price on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 5th. Bank of America started coverage on Lear in a report on Wednesday, March 4th. They issued a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lear in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Lear in a research note on Monday, May 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.08.
Get Our Latest Analysis on LEA
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.
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