Lear Co. (NYSE:LEA) CEO Sells $837,290.90 in Stock

Lear Co. (NYSE:LEAGet Rating) CEO Raymond E. Scott sold 6,143 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $136.30, for a total value of $837,290.90. Following the sale, the chief executive officer now owns 35,668 shares of the company’s stock, valued at approximately $4,861,548.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lear Stock Down 1.2 %

Shares of Lear stock opened at $136.33 on Friday. Lear Co. has a 1 year low of $118.38 and a 1 year high of $195.43. The business has a 50-day moving average of $141.51 and a two-hundred day moving average of $136.53. The company has a market capitalization of $8.09 billion, a P/E ratio of 72.52, a price-to-earnings-growth ratio of 0.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.01.

Lear (NYSE:LEAGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The auto parts company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.45. Lear had a return on equity of 6.78% and a net margin of 0.58%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company earned $2.45 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Lear Co. will post 8.63 EPS for the current year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.77 per share. The ex-dividend date is Wednesday, August 31st. This represents a $3.08 annualized dividend and a dividend yield of 2.26%. Lear’s dividend payout ratio is currently 163.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LEA. Morgan Stanley boosted their target price on Lear from $139.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Royal Bank of Canada boosted their target price on Lear from $144.00 to $158.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 3rd. BNP Paribas upgraded Lear from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $117.00 to $140.00 in a report on Monday, July 11th. Cowen upped their price objective on Lear to $196.00 in a report on Tuesday, August 9th. Finally, Bank of America dropped their price objective on Lear from $195.00 to $185.00 and set a “buy” rating for the company in a report on Friday, September 9th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $168.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LEA. Sandy Cove Advisors LLC acquired a new position in shares of Lear during the first quarter worth about $29,000. FNY Investment Advisers LLC acquired a new position in shares of Lear during the second quarter worth about $33,000. Allworth Financial LP acquired a new position in shares of Lear during the first quarter worth about $34,000. Signaturefd LLC boosted its position in shares of Lear by 81.1% during the first quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock worth $34,000 after buying an additional 107 shares during the period. Finally, Trust Co. of Vermont acquired a new position in shares of Lear during the second quarter worth about $34,000. 99.56% of the stock is owned by institutional investors and hedge funds.

About Lear

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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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