Lear (NYSE:LEA) Director Sells $26,854.60 in Stock

Lear Corporation (NYSE:LEA) Director Conrad Mallett, Jr. sold 190 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the transaction, the director directly owned 1,683 shares in the company, valued at $237,875.22. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lear Price Performance

Shares of NYSE:LEA opened at $140.93 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. Lear Corporation has a twelve month low of $89.29 and a twelve month high of $150.33. The stock’s 50 day moving average is $132.19 and its 200-day moving average is $124.73. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.72 and a beta of 1.23.

Lear (NYSE:LEA) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.84 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. Lear’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Lear Corporation will post 14.61 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Lear’s dividend payout ratio is presently 30.80%.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: Lear Corporation presented at the Wells Fargo Industrials & Materials Conference, keeping investors updated on the business, but the transcript does not indicate a major new earnings, guidance, or strategic announcement. Lear Corporation (LEA) Presents at 16th Annual Wells Fargo Industrials & Materials Conference Transcript

Analyst Upgrades and Downgrades

LEA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a research report on Monday, May 4th. Citigroup increased their price target on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Barclays increased their price target on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lear in a research report on Monday, May 4th. Finally, The Goldman Sachs Group increased their price target on Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $143.08.

Institutional Trading of Lear

Hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Lear during the 4th quarter valued at $25,000. WealthCollab LLC purchased a new stake in Lear in the 2nd quarter worth about $28,000. Los Angeles Capital Management LLC bought a new stake in Lear in the 4th quarter valued at about $30,000. Allworth Financial LP lifted its holdings in Lear by 62.6% during 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 lifted its holdings in Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

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.