Lear (NYSE:LEA) CEO Raymond Scott Sells 50,000 Shares

Lear Corporation (NYSE:LEAGet Free Report) CEO Raymond Scott sold 50,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total value of $6,768,500.00. Following the sale, the chief executive officer directly owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. This represents a 50.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lear Stock Performance

Shares of LEA opened at $137.78 on Friday. The stock has a market capitalization of $6.90 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.69 and a beta of 1.23. 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 1 year low of $91.67 and a 1 year high of $150.33. The company’s fifty day moving average is $136.34 and its two-hundred day moving average is $127.28.

Lear (NYSE:LEAGet Free Report) last released 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. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business earned $3.12 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Lear Corporation will post 14.61 earnings per share for the current year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were given a $0.77 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. Lear’s dividend payout ratio (DPR) is presently 30.80%.

Institutional Investors Weigh In On Lear

Several institutional investors have recently modified their holdings of LEA. Altshuler Shaham Ltd purchased a new position in Lear in the 4th quarter valued at approximately $25,000. WealthCollab LLC purchased a new stake in Lear during the second quarter worth $28,000. Los Angeles Capital Management LLC acquired a new stake in Lear in the fourth quarter valued at $30,000. Allworth Financial LP grew its holdings 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 purchasing an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of 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 buying an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LEA. Bank of America initiated coverage on Lear in a research note on Wednesday, March 4th. They set a “neutral” rating for the company. Citigroup lifted their price target on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, May 4th. UBS Group dropped their price objective on Lear from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada raised their target price on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Lear in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.38.

View Our Latest Research Report on LEA

Lear News Roundup

Here are the key news stories impacting Lear this week:

  • Positive Sentiment: Wells Fargo raised its price target on Lear to $137 from $133, signaling continued valuation support even while keeping an equal-weight rating. Wells Fargo lifts Lear price target
  • Neutral Sentiment: Lear’s recent earnings report showed stronger-than-expected adjusted EPS of $3.87, with revenue up 4.7% year over year, reinforcing the view that the core business is still performing steadily.
  • Negative Sentiment: CEO Raymond E. Scott sold 50,000 shares at an average price of $135.37, a transaction that reduced his stake by about 50%, which investors may read as a modest confidence signal against the stock. CEO stock sale filing

Lear Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Lear (NYSE:LEA)

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