Harry Albert Kemp Sells 7,000 Shares of Lear (NYSE:LEA) Stock

Lear Corporation (NYSE:LEA) SVP Harry Albert Kemp sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $136.31, for a total value of $954,170.00. Following the completion of the sale, the senior vice president owned 17,423 shares in the company, valued at $2,374,929.13. The trade was a 28.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lear Stock Down 1.4%

NYSE:LEA traded down $1.89 during trading hours on Monday, reaching $132.86. 373,459 shares of the company traded hands, compared to its average volume of 567,484. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $124.10 and its two-hundred day moving average price is $111.64. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $142.84. The stock has a market capitalization of $6.74 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.06 and a beta of 1.30.

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

Lear Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on LEA shares. Wall Street Zen upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Citigroup increased their price objective on shares of Lear from $146.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. lifted their target price on shares of Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Evercore boosted their target price on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lear in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $138.27.

Institutional Trading of Lear

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of 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 valued at $604,000 after buying an additional 7,131 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Lear in the first quarter valued at about $267,000. Empowered Funds LLC purchased a new position in shares of Lear in the first quarter valued at about $256,000. AlphaQuest LLC boosted its stake in shares of Lear by 22.4% in the second quarter. AlphaQuest LLC now owns 3,254 shares of the auto parts company’s stock worth $309,000 after acquiring an additional 595 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Lear by 4.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 20,802 shares of the auto parts company’s stock worth $1,976,000 after purchasing an additional 863 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

About Lear

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.