Jason Cardew Sells 4,500 Shares of Lear (NYSE:LEA) Stock

Lear Corporation (NYSE:LEA) CFO Jason Cardew sold 4,500 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $141.14, for a total transaction of $635,130.00. Following the sale, the chief financial officer directly owned 18,241 shares in the company, valued at $2,574,534.74. This trade represents a 19.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Lear Stock Performance

Shares of LEA stock opened at $144.17 on Friday. The business has a fifty day moving average of $130.39 and a 200 day moving average of $123.59. Lear Corporation has a 1 year low of $86.14 and a 1 year high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.23.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $3.12 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Lear Corporation will post 14.61 earnings per share for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.1%. Lear’s dividend payout ratio (DPR) is currently 30.80%.

More Lear News

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

Hedge Funds Weigh In On Lear

Several large investors have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in Lear during the first quarter worth $5,658,000. Bull Harbor Capital LLC purchased a new position in Lear in the first quarter valued at $238,000. Altshuler Shaham Ltd increased its holdings in Lear by 36.5% in the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock valued at $37,000 after buying an additional 81 shares in the last quarter. Amundi raised its position in shares of Lear by 308.3% in the first quarter. Amundi now owns 49,064 shares of the auto parts company’s stock worth $5,941,000 after acquiring an additional 37,048 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Lear by 40.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,298 shares of the auto parts company’s stock worth $157,000 after acquiring an additional 373 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on LEA. Argus upgraded shares of Lear to a “strong-buy” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Lear in a research report on Monday, May 4th. Barclays upped their price target on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Citigroup lifted their price objective on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group decreased their price objective on 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 issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Lear currently has an average rating of “Hold” and an average price target of $143.08.

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.