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

Lear Corporation (NYSE:LEA) CEO Raymond Scott sold 50,000 shares of the company’s 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 transaction, the chief executive officer directly owned 49,789 shares in the company, valued at approximately $6,739,936.93. This represents a 50.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lear Trading Up 1.6%

Shares of NYSE LEA traded up $2.20 during midday trading on Thursday, hitting $137.78. The stock had a trading volume of 439,923 shares, compared to its average volume of 602,322. The firm has a market cap of $6.90 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.69 and a beta of 1.23. Lear Corporation has a fifty-two week low of $91.67 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The company’s 50-day simple moving average is $136.04 and its 200 day simple moving average is $127.07.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.12 earnings per share. Research analysts anticipate that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.77 per share. 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 is presently 30.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LEA shares. Weiss Ratings raised shares of Lear from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. TD Cowen upgraded shares of Lear from a “hold” rating to a “buy” rating and upped their target price for the company from $138.00 to $165.00 in a research report on Tuesday, May 26th. Morgan Stanley set a $130.00 price target on Lear in a research note on Monday, May 4th. 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 report on Monday, May 4th. Finally, Barclays lifted their price objective on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $143.38.

Institutional Investors Weigh In On Lear

Several large investors have recently bought and sold shares of LEA. Jones Financial Companies Lllp raised its holdings in Lear by 5,205.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company’s stock worth $604,000 after buying an additional 7,131 shares during the period. United Services Automobile Association acquired a new position in shares of Lear in the first quarter valued at approximately $267,000. Empowered Funds LLC bought a new stake in shares of Lear during the first quarter worth $256,000. EverSource Wealth Advisors LLC increased its position in shares of Lear by 37.1% during the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock worth $92,000 after acquiring an additional 262 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Lear by 9.5% during the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock worth $408,000 after acquiring an additional 372 shares during the period. Institutional investors own 97.04% of the company’s stock.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Wells Fargo lifted its price target on Lear, which can reinforce investor confidence that the stock’s recent strength is being recognized by analysts. Benzinga
• Neutral Sentiment: The updated $137 target is only slightly below the current trading level, implying the stock may be fairly valued after its recent run rather than meaningfully undervalued. Benzinga
• Neutral Sentiment: The unchanged equal weight rating indicates Wells Fargo sees Lear as a hold rather than a clear outperformer, so the update is supportive but not a major catalyst. Benzinga

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.