Jason Cardew Sells 5,000 Shares of Lear (NYSE:LEA) Stock

Lear Corporation (NYSE:LEA) CFO Jason Cardew sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at $1,953,047.50. The trade was a 27.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lear Trading Down 0.5%

NYSE:LEA opened at $144.17 on Friday. Lear Corporation has a 12-month low of $86.14 and a 12-month high of $150.33. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $130.39 and its 200-day simple moving average is $123.59. The firm has a market cap of $7.22 billion, a P/E ratio of 14.42, a PEG ratio of 0.74 and a beta of 1.23.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the company earned $3.12 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that Lear Corporation will post 14.61 EPS for the current year.

Lear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. Lear’s dividend payout ratio (DPR) is 30.80%.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear’s prior quarterly results were strong, with EPS of $3.87 beating estimates and revenue rising 4.7% year over year, reinforcing confidence in the auto supplier’s operating performance and helping support the stock. Article: Lear earnings and stock performance
• Positive Sentiment: The company also announced a quarterly dividend of $0.77 per share, signaling continued shareholder returns and a healthy payout ratio near 31%. Article: Lear dividend announcement
• Neutral Sentiment: Analyst sentiment remains mixed, with a consensus rating of Hold, though some firms still have bullish targets above current levels. Article: Lear analyst ratings
• Negative Sentiment: CFO Jason M. Cardew sold shares in two recent transactions, including 4,500 shares and 5,000 shares, which can pressure sentiment because investors often view insider selling as a sign of caution. Article: Lear CFO stock sales

Wall Street Analysts Forecast Growth

LEA has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Lear from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. The Goldman Sachs Group boosted their target price on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their target price on Lear from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their price target on Lear from $134.00 to $138.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $143.08.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp grew its holdings in shares of Lear by 46,707.8% in the 4th quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock worth $109,054,000 after acquiring an additional 949,569 shares during the period. Norges Bank acquired a new position in Lear during the fourth quarter worth $82,016,000. Balyasny Asset Management L.P. purchased a new stake in Lear during the second quarter worth $39,656,000. Caisse de depot et placement du Quebec purchased a new stake in Lear during the third quarter worth $40,984,000. Finally, American Century Companies Inc. grew its holdings in Lear by 23.6% in the third 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. 97.04% of the stock is owned by hedge funds and other institutional investors.

About Lear

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.