Key Points
- VP Marianne Vidershain sold 1,590 shares of Lear at an average price of $135.00 for proceeds of $214,650, reducing her stake by 46.06% to 1,862 shares; the transaction was disclosed in an SEC filing.
- Lear topped expectations for the quarter with EPS of $3.41 vs. $2.67 expected and revenue of $5.99 billion (up 4.8% year-over-year).
- The company declared a quarterly dividend of $0.77 (annualized $3.08, yield 2.4%, ex-dividend March 5), while analysts rate the stock an average "Hold" with a $138.27 target and the share price trading around $130.54.
Lear Corporation (NYSE:LEA - Get Free Report) VP Marianne Vidershain sold 1,590 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $135.00, for a total value of $214,650.00. Following the completion of the transaction, the vice president directly owned 1,862 shares in the company, valued at $251,370. This represents a 46.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Lear Stock Performance
LEA opened at $130.54 on Friday. The firm has a market cap of $6.62 billion, a PE ratio of 16.02, a P/E/G ratio of 1.05 and a beta of 1.30. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $125.47 and a 200-day simple moving average of $112.47. Lear Corporation has a fifty-two week low of $73.85 and a fifty-two week high of $142.84.
Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.67 by $0.74. Lear had a return on equity of 13.40% and a net margin of 1.88%.The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.78 billion. During the same period in the previous year, the firm earned $2.94 earnings per share. Lear's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Lear Corporation will post 12.89 EPS for the current fiscal year.
Lear Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.4%. Lear's payout ratio is currently 37.79%.
Hedge Funds Weigh In On Lear
A number of hedge funds have recently added to or reduced their stakes in LEA. Dimensional Fund Advisors LP raised its position in Lear by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,802 shares of the auto parts company's stock valued at $324,990,000 after acquiring an additional 51,692 shares in the last quarter. Schroder Investment Management Group grew its position in Lear by 0.3% in the fourth quarter. Schroder Investment Management Group now owns 1,830,466 shares of the auto parts company's stock worth $212,938,000 after acquiring an additional 5,409 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Lear by 23.6% during 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 last quarter. M&T Bank Corp raised its holdings in shares of Lear by 46,707.8% during the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company's stock valued at $109,054,000 after purchasing an additional 949,569 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake 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 valued at $90,682,000 after purchasing an additional 57,206 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on LEA shares. Argus raised shares of Lear to a "strong-buy" rating in a research note on Monday, February 9th. Weiss Ratings restated a "hold (c)" rating on shares of Lear in a report on Thursday, January 22nd. The Goldman Sachs Group reiterated a "neutral" rating and set a $121.00 price target on shares of Lear in a report on Thursday, January 15th. Barclays set a $140.00 price target on Lear in a research report on Thursday, February 5th. Finally, Benchmark began coverage on Lear in a research report on Thursday, February 19th. They set a "buy" rating and a $170.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Lear currently has an average rating of "Hold" and an average target price of $138.27.
View Our Latest Analysis on LEA
Lear Company Profile
(
Get Free Report)
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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