Key Points
- CFO Jason Cardew sold 5,000 shares on Dec. 18 at an average price of $118.17 for $590,850, leaving him with 15,244 shares — a 24.7% reduction in his position.
- Lear declared a $0.77 quarterly dividend payable Dec. 30 (ex-dividend Dec. 10), equal to an annualized $3.08 and a ~2.6% yield.
- The company slightly beat Q3 EPS estimates ($2.79 vs. $2.76) with revenue of $5.68B (up 1.7% YoY), while analysts maintain an average "Hold" rating and a $119.80 price target near current levels.
Lear Corporation (NYSE:LEA - Get Free Report) CFO Jason Cardew sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer owned 15,244 shares of the company's stock, valued at $1,801,383.48. This trade represents a 24.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Lear Trading Up 0.6%
LEA opened at $117.21 on Friday. The stock has a market capitalization of $6.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Lear Corporation has a 12 month low of $73.85 and a 12 month high of $118.79. The firm's fifty day simple moving average is $106.03 and its 200 day simple moving average is $102.73.
Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $2.89 EPS. As a group, research analysts anticipate that Lear Corporation will post 12.89 EPS for the current fiscal year.
Lear Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 10th. Lear's payout ratio is currently 37.65%.
Institutional Investors Weigh In On Lear
Several hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in shares of Lear by 1,384.2% in the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 263 shares during the period. WealthCollab LLC bought a new position in Lear in the 2nd quarter valued at about $28,000. Allworth Financial LP raised its holdings in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 119 shares during the period. Advisory Services Network LLC acquired a new stake in Lear during the third quarter worth approximately $33,000. Finally, Quent Capital LLC bought a new stake in shares of Lear during the third quarter worth approximately $38,000. Institutional investors and hedge funds own 97.04% of the company's stock.
Wall Street Analysts Forecast Growth
LEA has been the subject of a number of analyst reports. Citigroup raised their target price on shares of Lear from $136.00 to $146.00 and gave the company a "buy" rating in a research report on Monday. Barclays raised their price objective on Lear from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, November 10th. Bank of America lowered Lear from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $135.00 to $123.00 in a report on Wednesday, September 10th. JPMorgan Chase & Co. raised their price target on Lear from $133.00 to $138.00 and gave the company an "overweight" rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Lear in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $119.80.
View Our Latest Stock Analysis on Lear
Lear Company Profile
(
Get Free Report)
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.
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