Lear (NYSE:LEA) CFO Jason Cardew Sells 10,000 Shares

Lear Corporation (NYSE:LEA) CFO Jason Cardew sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $134.51, for a total transaction of $1,345,100.00. Following the transaction, the chief financial officer directly owned 22,741 shares in the company, valued at $3,058,891.91. The trade was a 30.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Lear Trading Down 1.4%

LEA stock traded down $1.89 during midday trading on Monday, hitting $132.86. The stock had a trading volume of 373,459 shares, compared to its average volume of 567,484. The company’s 50-day moving average price is $124.10 and its 200 day moving average price is $111.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05. The firm has a market cap of $6.74 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.06 and a beta of 1.30. Lear Corporation has a 12-month low of $73.85 and a 12-month high of $142.84.

Lear (NYSE:LEA) last posted its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.74. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Lear had a return on equity of 13.40% and a net margin of 1.88%.The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.94 earnings per share. On average, equities research analysts predict that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 5th will be issued a $0.77 dividend. The ex-dividend date is Thursday, March 5th. This represents a $3.08 annualized dividend and a yield of 2.3%. Lear’s payout ratio is 37.79%.

Wall Street Analyst Weigh In

LEA has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price on shares of Lear in a report on Thursday, January 15th. Evercore lifted their target price on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a report on Monday, November 24th. Citigroup increased their price target on Lear from $146.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Benchmark assumed coverage on Lear in a research note on Thursday. They set a “buy” rating and a $170.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price target on Lear from $123.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $138.27.

Institutional Investors Weigh In On Lear

A number of hedge funds have recently bought and sold shares of LEA. Altshuler Shaham Ltd acquired a new position in shares of Lear in the 4th quarter valued at approximately $25,000. WealthCollab LLC acquired a new stake in shares of Lear during the second quarter worth approximately $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Lear in the fourth quarter worth $30,000. Allworth Financial LP raised its holdings in Lear by 62.6% in the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 119 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

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.