Lear (NYSE:LEA) CFO Jason Cardew Sells 5,000 Shares

Key Points

• Lear CFO Jason Cardew sold 5,000 shares on June 2 at an average price of $147.50, for proceeds of $737,500. After the sale, he still held 13,241 shares, and the transaction reduced his stake by 27.41%.
• The company recently posted stronger-than-expected earnings, reporting EPS of $3.87 versus the $3.51 consensus estimate. Revenue rose 4.7% year over year to $5.82 billion, though it came in slightly below expectations.
• Lear also announced a quarterly dividend of $0.77 per share, payable June 23 to shareholders of record on June 3. That works out to an annualized dividend of $3.08 and a yield of about 2.1%.

Lear Corporation (NYSE:LEA - Get Free Report) CFO Jason Cardew sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares in the company, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lear Price Performance

Shares of NYSE LEA opened at $147.00 on Wednesday. Lear Corporation has a twelve month low of $86.14 and a twelve month high of $150.33. The company has a market cap of $7.36 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23. The business's 50 day moving average price is $128.71 and its two-hundred day moving average price is $122.79. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.84 billion. During the same quarter in the previous year, the company posted $3.12 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

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

Hedge Funds Weigh In On Lear

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Lear by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,943,480 shares of the auto parts company's stock worth $356,380,000 after purchasing an additional 107,678 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Lear by 0.3% in the 4th quarter. Schroder Investment Management Group now owns 1,830,466 shares of the auto parts company's stock worth $212,938,000 after purchasing an additional 5,409 shares during the period. American Century Companies Inc. raised its holdings in shares of Lear by 23.6% in the 3rd quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company's stock worth $157,891,000 after purchasing an additional 299,841 shares during the period. M&T Bank Corp raised its holdings in shares of Lear by 46,707.8% in the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company's stock worth $109,054,000 after purchasing an additional 949,569 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Lear by 7.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 791,293 shares of the auto parts company's stock worth $90,682,000 after purchasing an additional 57,206 shares during the period. Institutional investors own 97.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LEA shares. Citigroup boosted their price target on Lear from $177.00 to $179.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Barclays increased their price target on Lear from $140.00 to $150.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. increased their price target on Lear from $152.00 to $153.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Benchmark began coverage on Lear in a report on Thursday, February 19th. They issued a "buy" rating and a $170.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $143.08.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: A recent Yahoo Finance article examined Lear’s valuation after the stock’s pullback, which can attract value-oriented buyers if they see the shares as inexpensive relative to earnings and cash flow. A Look At Lear (LEA) Valuation After Recent Share Price Pullback
• Positive Sentiment: Lear’s latest quarterly results were solid, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year, reinforcing the view that the auto parts company remains fundamentally healthy. Lear stock and earnings background
• Neutral Sentiment: Most of the other items in the feed were unrelated education, technology, or general market stories and do not appear to have a direct impact on Lear’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.

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