Shari L. Burgess Sells 3,500 Shares of Lear Co. (LEA) Stock

Lear Co. (NYSE:LEA) VP Shari L. Burgess sold 3,500 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $156.00, for a total transaction of $546,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

NYSE LEA opened at $155.22 on Friday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 8.68, a P/E/G ratio of 3.52 and a beta of 1.40. Lear Co. has a twelve month low of $114.45 and a twelve month high of $206.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 1.13.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, January 25th. The auto parts company reported $4.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.96 by $0.09. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. Lear’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.38 earnings per share. On average, sell-side analysts anticipate that Lear Co. will post 17.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Friday, March 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. This is an increase from Lear’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, February 28th. Lear’s dividend payout ratio is presently 15.37%.

Lear announced that its board has authorized a share buyback plan on Thursday, February 7th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

LEA has been the subject of several research analyst reports. Buckingham Research lowered their price target on shares of Lear from $150.00 to $145.00 and set a “hold” rating for the company in a report on Friday, October 26th. ValuEngine upgraded shares of Lear from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Morgan Stanley lowered their price target on shares of Lear from $214.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Zacks Investment Research upgraded shares of Lear from a “sell” rating to a “hold” rating in a report on Monday, November 19th. Finally, Jefferies Financial Group initiated coverage on shares of Lear in a report on Tuesday, December 4th. They set a “buy” rating and a $166.00 price target for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Lear currently has a consensus rating of “Buy” and an average target price of $183.40.

A number of hedge funds and other institutional investors have recently bought and sold shares of LEA. Massey Quick Simon & CO. LLC acquired a new stake in Lear in the fourth quarter valued at $32,000. IMS Capital Management acquired a new stake in Lear in the third quarter valued at $38,000. Oregon Public Employees Retirement Fund increased its holdings in Lear by 11,007.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 4,854,451 shares during the period. Rational Advisors LLC acquired a new stake in Lear in the fourth quarter valued at $49,000. Finally, Advisory Services Network LLC increased its holdings in Lear by 25.1% in the fourth quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock valued at $108,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 96.21% of the company’s stock.

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About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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