Lear (NYSE:LEA) Director Conrad Mallett, Jr. Sells 190 Shares

Lear Corporation (NYSE:LEA) Director Conrad Mallett, Jr. sold 190 shares of the company’s stock in a transaction 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 approximately $237,875.22. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lear Stock Up 3.2%

Shares of NYSE LEA opened at $144.99 on Friday. The firm has a market cap of $7.26 billion, a PE ratio of 14.50, a P/E/G ratio of 0.71 and a beta of 1.23. Lear Corporation has a 12-month low of $89.29 and a 12-month high of $150.33. The company’s fifty day simple moving average is $132.68 and its 200 day simple moving average is $125.02. 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) last issued its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.36. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. Lear’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.12 earnings per share. As a group, sell-side analysts forecast that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on LEA. The Goldman Sachs Group upped their price objective on shares of Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Bank of America began coverage on shares of Lear in a report on Wednesday, March 4th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a report on Monday, May 4th. Royal Bank Of Canada increased their target price on shares of Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, UBS Group lowered their target price on shares of Lear from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. One equities research 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, Lear currently has an average 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: Lear’s presentation at the Wells Fargo Industrials & Materials Conference may have helped keep investor attention on the company’s outlook and operating trends. Lear Corporation Presents at 16th Annual Wells Fargo Industrials & Materials Conference Transcript
• Neutral Sentiment: Director Conrad L. Mallett, Jr. sold 190 shares at an average price of $141.34, a relatively small insider sale that may be viewed as routine rather than a major signal about the business. SEC insider filing

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in shares of Lear in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new position in shares of Lear in the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC boosted its position in shares of Lear by 942.3% in the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 245 shares during the period. WealthCollab LLC bought a new position in shares of Lear in the second quarter valued at approximately $28,000. Finally, Allworth Financial LP boosted its position in shares of Lear by 62.6% in the third 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. Institutional investors own 97.04% of the company’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.