Lear Corporation (NYSE:LEA) CFO Sells $492,350.00 in Stock

Key Points

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Lear Corporation (NYSE:LEA - Get Free Report) CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total transaction of $492,350.00. Following the transaction, the chief financial officer directly owned 20,244 shares in the company, valued at approximately $1,993,426.68. This represents a 19.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Lear Trading Down 1.4%

Shares of LEA stock traded down $1.28 during mid-day trading on Friday, reaching $93.01. The company's stock had a trading volume of 531,012 shares, compared to its average volume of 728,866. Lear Corporation has a 12-month low of $73.85 and a 12-month high of $119.10. The firm has a market capitalization of $4.95 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.57 and a beta of 1.30. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The company's 50 day simple moving average is $96.99 and its 200-day simple moving average is $93.00.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The firm's quarterly revenue was up .3% on a year-over-year basis. On average, research analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.08 annualized dividend and a yield of 3.3%. Lear's payout ratio is 35.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LEA shares. Citigroup increased their price target on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Barclays increased their price target on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Morgan Stanley cut their price target on shares of Lear from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Bank of America increased their price target on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, Wall Street Zen raised shares of Lear from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $113.00.

Institutional Investors Weigh In On Lear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Commonwealth Equity Services LLC increased its stake in Lear by 31.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,601 shares of the auto parts company's stock worth $436,000 after buying an additional 1,089 shares during the period. Sei Investments Co. increased its stake in Lear by 82.3% during the 4th quarter. Sei Investments Co. now owns 45,927 shares of the auto parts company's stock worth $4,349,000 after buying an additional 20,733 shares during the period. LPL Financial LLC grew its holdings in Lear by 243.5% during the 4th quarter. LPL Financial LLC now owns 18,754 shares of the auto parts company's stock worth $1,776,000 after acquiring an additional 13,295 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Lear by 14.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,158 shares of the auto parts company's stock worth $387,000 after acquiring an additional 524 shares in the last quarter. Finally, Norges Bank acquired a new position in Lear during the 4th quarter worth $31,881,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.