Lear Corporation (NYSE:LEA) CEO Raymond E. Scott Sells 5,000 Shares

Key Points

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Lear Corporation (NYSE:LEA - Get Free Report) CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the transaction, the chief executive officer directly owned 38,729 shares of the company's stock, valued at $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Lear Price Performance

Shares of LEA stock traded down $1.28 during midday trading on Friday, reaching $93.01. 531,012 shares of the company were exchanged, 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 company has a market cap of $4.95 billion, a P/E ratio of 10.85, a PEG ratio of 0.57 and a beta of 1.30. The company's 50 day moving average price is $96.99 and its two-hundred day moving average price is $93.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

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

Lear Announces Dividend

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

Institutional Investors Weigh In On Lear

A number of large investors have recently made changes to their positions in LEA. Commonwealth Equity Services LLC raised its holdings in shares of Lear by 31.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,601 shares of the auto parts company's stock valued at $436,000 after acquiring an additional 1,089 shares during the period. Sei Investments Co. raised its holdings in shares of Lear by 82.3% during the fourth quarter. Sei Investments Co. now owns 45,927 shares of the auto parts company's stock valued at $4,349,000 after acquiring an additional 20,733 shares during the period. LPL Financial LLC raised its holdings in shares of Lear by 243.5% during the fourth quarter. LPL Financial LLC now owns 18,754 shares of the auto parts company's stock valued at $1,776,000 after acquiring an additional 13,295 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lear by 14.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,158 shares of the auto parts company's stock valued at $387,000 after acquiring an additional 524 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lear during the fourth quarter valued at approximately $31,881,000. Institutional investors and hedge funds own 97.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LEA. JPMorgan Chase & Co. lifted their price target on shares of Lear from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 9th. UBS Group decreased their price target on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Barclays lifted their price target on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Morgan Stanley decreased their price target on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lear currently has a consensus rating of "Hold" and a consensus target price of $113.00.

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.