Lear (NYSE:LEA) CFO Jason Cardew Sells 4,500 Shares

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

Lear Stock Down 1.5%

LEA opened at $145.11 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a market cap of $7.27 billion, a P/E ratio of 14.51, a PEG ratio of 0.75 and a beta of 1.23. Lear Corporation has a 52 week low of $86.14 and a 52 week high of $150.33. The business’s fifty day simple moving average is $129.91 and its 200 day simple moving average is $123.32.

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

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.77 per share. 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 2.1%. Lear’s dividend payout ratio (DPR) is presently 30.80%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Benchmark started coverage on Lear in a research note on Thursday, February 19th. They set a “buy” rating and a $170.00 price objective on the stock. The Goldman Sachs Group raised their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lear in a research note on Monday, May 4th. Argus raised Lear to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada raised their price target on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. One 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. According to data from MarketBeat.com, Lear presently has an average rating of “Hold” and a consensus target price of $143.08.

Lear News Summary

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Investor sentiment toward auto suppliers remains constructive after Lear’s last earnings report, where the company beat EPS estimates and posted year-over-year revenue growth, reinforcing the view that fundamentals are improving. This supports the stock’s recent rise and helps explain why shares are trading near their 52-week high.
• Neutral Sentiment: Two separate filings showed CFO Jason M. Cardew sold shares on June 1 and June 2. While insider sales can draw attention, the transactions were relatively small versus his remaining stake and do not necessarily signal a change in Lear’s outlook. Article: Lear Corporation CFO Jason M. Cardew sold shares
• Neutral Sentiment: No new company-specific operational update, guidance revision, or major contract announcement appeared in the latest 24-36 hours, so the stock’s move is likely being driven more by broader market positioning and the afterglow from prior earnings strength than by fresh news.
• Negative Sentiment: Recent insider selling from the CFO may create some short-term caution among investors, especially after a strong run in the shares, as some may interpret it as limited confidence in near-term upside.

Institutional Trading of Lear

A number of hedge funds have recently added to or reduced their stakes in LEA. M&T Bank Corp boosted its stake 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 buying an additional 949,569 shares during the last quarter. Norges Bank purchased a new position in shares of Lear in the 4th quarter worth about $82,016,000. Balyasny Asset Management L.P. purchased a new position in shares of Lear in the 2nd quarter worth about $39,656,000. Caisse de depot et placement du Quebec purchased a new position in shares of Lear in the 3rd quarter worth about $40,984,000. Finally, American Century Companies Inc. raised its holdings in shares of 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 period. 97.04% of the stock is owned by institutional investors and hedge funds.

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.