Lear (NYSE:LEA) SVP Sells $330,263.68 in Stock

Lear Corporation (NYSE:LEA) SVP Nicholas Jon Roelli sold 2,336 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $141.38, for a total value of $330,263.68. Following the completion of the sale, the senior vice president owned 2,339 shares of the company’s stock, valued at approximately $330,687.82. This trade represents a 49.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lear Trading Up 1.0%

Shares of LEA stock opened at $147.13 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. The stock has a market cap of $7.37 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The stock has a 50 day simple moving average of $127.60 and a 200 day simple moving average of $122.30. Lear Corporation has a 1 year low of $86.14 and a 1 year high of $149.16.

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 during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $3.12 earnings per share. On average, research analysts predict that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. Lear’s payout ratio is currently 30.80%.

Analysts Set New Price Targets

Several brokerages have commented on LEA. Citigroup boosted their price objective on shares of Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Benchmark began coverage on shares of Lear in a research report on Thursday, February 19th. They set a “buy” rating and a $170.00 price objective for the company. Morgan Stanley set a $130.00 price objective on shares of Lear in a research report on Monday, May 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Lear in a research report on Monday, May 4th. Finally, TD Cowen upgraded shares of Lear from a “hold” rating to a “buy” rating and boosted their price objective for the company from $138.00 to $165.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEA. Jones Financial Companies Lllp increased its holdings in shares of Lear by 5,205.1% during the first 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 in the last quarter. United Services Automobile Association acquired a new position in shares of Lear during the first quarter worth $267,000. Empowered Funds LLC acquired a new position in shares of Lear during the first quarter worth $256,000. EverSource Wealth Advisors LLC increased its holdings in Lear by 37.1% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company’s stock valued at $92,000 after purchasing an additional 262 shares during the period. Finally, Cerity Partners LLC increased its holdings in Lear by 9.5% in the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company’s stock valued at $408,000 after purchasing an additional 372 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: TD Cowen upgraded Lear to Buy and lifted its price target to $165, signaling greater confidence in the auto supplier’s outlook. TD Cowen upgrades Lear (LEA)
• Positive Sentiment: Recent quarterly results were strong, with Lear beating EPS expectations and delivering 4.7% year-over-year revenue growth, which continues to support investor sentiment. Lear earnings and stock report
• Neutral Sentiment: Lear announced it will participate in a fireside chat at the Wells Fargo Industrials & Materials Conference on June 10. This may keep the stock in focus, but it is not a major business update by itself. Lear conference participation announcement
• Neutral Sentiment: There was also an insider sale by SVP Nicholas Jon Roelli, who sold 2,336 shares. The transaction is relatively small and may be viewed as routine, but it is worth noting. Lear insider selling article

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.