Lear (NYSE:LEA) CFO Sells $737,500.00 in Stock

Lear Corporation (NYSE:LEA) CFO Jason Cardew sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the transaction, the chief financial officer owned 13,241 shares in the company, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Lear Stock Performance

Lear stock opened at $141.29 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Lear Corporation has a 1 year low of $88.04 and a 1 year high of $150.33. The company has a market cap of $7.08 billion, a PE ratio of 14.13, a PEG ratio of 0.73 and a beta of 1.23. The company’s 50-day moving average is $130.77 and its two-hundred day moving average is $123.72.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share 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 the consensus estimate of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. Lear’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.12 EPS. Equities analysts anticipate that Lear Corporation will post 14.61 earnings per share for the current year.

Lear Dividend Announcement

The firm also recently announced 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. 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LEA. Altshuler Shaham Ltd grew its position in Lear by 36.5% in the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock valued at $37,000 after acquiring an additional 81 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Lear by 15.0% during the fourth quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 88 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in shares of Lear by 0.5% during the first quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company’s stock valued at $2,107,000 after purchasing an additional 89 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Lear by 4.5% during the fourth quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock valued at $246,000 after purchasing an additional 92 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in shares of Lear by 4.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock valued at $274,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

LEA has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Lear from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. UBS Group cut their price target on Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Royal Bank Of Canada raised their price target on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Barclays raised their price target on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, Benchmark started coverage on Lear in a report on Thursday, February 19th. They set a “buy” rating and a $170.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.08.

More Lear News

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.

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.