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

by · The Markets Daily

Lear Corporation (NYSE:LEA – Get Free Report) CFO Jason Cardew sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $118.17, for a total value of $590,850.00. Following the completion of the transaction, the chief financial officer owned 15,244 shares of the company’s stock, valued at $1,801,383.48. The trade was a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lear Price Performance

Shares of Lear stock traded up $1.05 on Thursday, hitting $117.59. 390,409 shares of the company traded hands, compared to its average volume of 694,290. Lear Corporation has a 52 week low of $73.85 and a 52 week high of $118.79. The business has a 50-day simple moving average of $105.66 and a 200 day simple moving average of $102.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35. The stock has a market capitalization of $6.10 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Lear (NYSE:LEA – Get Free Report) last posted its earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 1.92% and a return on equity of 13.44%. Lear’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $2.89 earnings per share. Research analysts expect that Lear Corporation will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Wednesday, December 10th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 10th. Lear’s payout ratio is 37.65%.

Institutional Trading of Lear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP lifted its stake in shares of Lear by 102.9% in the 3rd quarter. Mirabella Financial Services LLP now owns 19,895 shares of the auto parts company’s stock valued at $1,998,000 after purchasing an additional 10,091 shares during the period. Allworth Financial LP raised its stake in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Lear in the third quarter worth about $243,000. Cambria Investment Management L.P. purchased a new stake in shares of Lear in the third quarter valued at approximately $9,131,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Lear by 60.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,305 shares of the auto parts company’s stock worth $131,000 after acquiring an additional 494 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LEA. Citigroup upped their price objective on Lear from $136.00 to $146.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI increased their price target on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a report on Monday, November 24th. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $135.00 to $123.00 in a research report on Wednesday, September 10th. UBS Group reduced their price target on shares of Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, The Goldman Sachs Group set a $104.00 price objective on Lear in a research note on Monday, September 29th. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.80.

Check Out Our Latest Research Report on Lear

Lear Company Profile

(Get Free Report)

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.

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