Conrad L. Mallett, Jr. Sells 1,187 Shares of Lear Corporation (NYSE:LEA) Stock

Lear Corporation (NYSE:LEA) Director Conrad L. Mallett, Jr. sold 1,187 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $92.86, for a total value of $110,224.82. Following the completion of the sale, the director now directly owns 84 shares of the company’s stock, valued at $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Lear Stock Down 2.1%

Shares of NYSE LEA opened at $90.68 on Wednesday. The stock has a market cap of $4.85 billion, a PE ratio of 10.63, a PEG ratio of 0.51 and a beta of 1.29. The business has a fifty day moving average of $87.68 and a two-hundred day moving average of $92.00. Lear Corporation has a 52-week low of $73.85 and a 52-week high of $126.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.32.

Lear (NYSE:LEA) last issued its quarterly earnings data on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.48. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $3.18 earnings per share. As a group, equities research analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. Lear’s payout ratio is presently 36.11%.

Wall Street Analysts Forecast Growth

LEA has been the subject of several research reports. Wall Street Zen raised Lear from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley reduced their price objective on Lear from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Barclays cut Lear from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on Lear from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Cowen cut Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $107.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LEA. Addison Advisors LLC increased its stake in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock valued at $32,000 after buying an additional 137 shares in the last quarter. WPG Advisers LLC acquired a new stake in Lear in the first quarter worth about $39,000. Quadrant Capital Group LLC increased its position in Lear by 51.1% in the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 166 shares during the period. Putney Financial Group LLC acquired a new stake in Lear in the fourth quarter worth about $58,000. Finally, Fifth Third Bancorp increased its position in Lear by 131.8% in the first quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after purchasing an additional 435 shares during the period. 97.04% of the stock is owned by institutional investors.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.