Key Points
- Lear Director Conrad Mallett, Jr. sold 190 shares at an average price of $141.34, totaling $26,854.60. After the sale, he still owned 1,683 shares, reducing his stake by about 10.14%.
- Lear reported better-than-expected quarterly earnings, posting $3.87 EPS versus the $3.51 consensus estimate. Revenue came in at $5.82 billion, up 4.7% year over year, though slightly below expectations.
- The company also announced a quarterly dividend of $0.77 per share, payable June 23, with a 2.1% annualized yield. Analysts currently have a consensus rating of Hold with an average price target of $143.08.
Lear Corporation (NYSE:LEA - Get Free Report) Director Conrad Mallett, Jr. sold 190 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $141.34, for a total transaction of $26,854.60. Following the completion of the sale, the director directly owned 1,683 shares in the company, valued at $237,875.22. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Lear Trading Up 3.2%
Shares of LEA opened at $144.99 on Friday. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. Lear Corporation has a fifty-two week low of $89.29 and a fifty-two week high of $150.33. The firm has a 50 day moving average price of $132.68 and a 200-day moving average price of $125.02.
Lear (NYSE:LEA - Get Free Report) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm earned $3.12 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Lear Corporation will post 14.61 earnings per share for the current year.
Lear Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a $0.77 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $3.08 annualized dividend and a yield of 2.1%. Lear's payout ratio is 30.80%.
Institutional Investors Weigh In On Lear
Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position 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 valued at $157,891,000 after purchasing an additional 299,841 shares during the last quarter. Oldfield Partners LLP increased its position in shares of Lear by 5.5% during the 4th quarter. Oldfield Partners LLP now owns 644,286 shares of the auto parts company's stock valued at $73,835,000 after purchasing an additional 33,313 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lear during the 3rd quarter valued at about $1,420,000. Life Cycle Investment Partners Ltd purchased a new stake in shares of Lear during the 4th quarter valued at about $22,539,000. Finally, Impax Asset Management Group plc increased its position in shares of Lear by 33.1% during the 4th quarter. Impax Asset Management Group plc now owns 17,264 shares of the auto parts company's stock valued at $1,978,000 after purchasing an additional 4,293 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company's stock.
Analysts Set New Price Targets
LEA has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Lear from $115.00 to $131.00 and gave the company a "neutral" rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their target price on shares of Lear from $152.00 to $153.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Bank of America started coverage on shares of Lear in a research note on Wednesday, March 4th. They set a "neutral" rating on the stock. Morgan Stanley set a $130.00 target price on shares of Lear in a research note on Monday, May 4th. Finally, Wells Fargo & Company upped their target price on shares of Lear from $126.00 to $133.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $143.08.
View Our Latest Research Report on LEA
Key Headlines Impacting Lear
Here are the key news stories impacting Lear this week:
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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