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

Lear Corporation (NYSE:LEA) Director Conrad Mallett, Jr. sold 190 shares of Lear stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $141.34, for a total value of $26,854.60. Following the completion of the transaction, the director owned 1,683 shares in the company, valued at $237,875.22. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lear Price Performance

LEA opened at $145.24 on Friday. 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 $7.28 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.74 and a beta of 1.23. The business’s 50-day moving average is $133.14 and its two-hundred day moving average is $125.16. Lear Corporation has a 1 year low of $89.29 and a 1 year high of $150.33.

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 business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company earned $3.12 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Lear Corporation will post 14.61 earnings per share for the current fiscal year.

Lear Announces Dividend

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

Hedge Funds Weigh In On Lear

Several hedge funds have recently bought and sold shares of LEA. Altshuler Shaham Ltd lifted its stake in Lear by 36.5% during the 1st quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 81 shares in the last quarter. UMB Bank n.a. raised its position in Lear by 15.0% in the 4th quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 88 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in shares of Lear by 0.5% in the 1st quarter. Waterfront Wealth Inc. now owns 17,404 shares of the auto parts company’s stock valued at $2,107,000 after buying an additional 89 shares during the period. Inspire Advisors LLC boosted its stake in shares of Lear by 4.5% in the 4th quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock valued at $246,000 after buying an additional 92 shares during the period. Finally, Pallas Capital Advisors LLC grew its position in shares of Lear by 4.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock worth $274,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. TD Cowen raised Lear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $138.00 to $165.00 in a research note on Tuesday, May 26th. Morgan Stanley set a $130.00 price objective on Lear in a research note on Monday, May 4th. Finally, Barclays boosted their price objective on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $143.08.

Lear News Roundup

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Lear recently beat quarterly earnings expectations, reporting $3.87 per share versus the $3.51 consensus, while revenue rose 4.7% year over year. That stronger-than-expected operating performance likely continues to support investor confidence in the auto supplier’s outlook. Lear earnings and stock data
• Positive Sentiment: The company also pays a quarterly dividend of $0.77 per share, or $3.08 annualized, which can help attract income-focused investors and support the stock. Lear dividend information
• Neutral Sentiment: Director Conrad L. Mallett, Jr. sold 190 shares for about $26,855. The sale is relatively small and looks more routine than like a meaningful shift in insider sentiment. SEC insider filing

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.