Lear Corp. (LEA) Director Sells $178,860.00 in Stock
Lear Corp. (NYSE:LEA) Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the transaction, the director now owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Lear Corp. (NYSE:LEA) opened at 121.22 on Friday. Lear Corp. has a 52 week low of $93.54 and a 52 week high of $127.00. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25. The stock’s 50 day moving average price is $116.40 and its 200-day moving average price is $112.99.
Lear Corp. (NYSE:LEA) last posted its earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.34. The business earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 EPS. Equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
Several research firms have weighed in on LEA. Citigroup Inc. increased their price objective on Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Zacks Investment Research cut Lear Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. raised their price target on Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, Bank of America Corp. cut Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $128.11.
Several hedge funds have recently bought and sold shares of LEA. Checchi Capital Advisers LLC raised its stake in Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares during the last quarter. Societe Generale purchased a new position in Lear Corp. during the second quarter worth about $121,000. Assetmark Inc. increased its position in Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock worth $150,000 after buying an additional 1,451 shares during the period. Pacer Advisors Inc. increased its position in Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock worth $154,000 after buying an additional 130 shares during the period. Finally, Creative Planning increased its position in Lear Corp. by 24.4% in the second quarter. Creative Planning now owns 1,532 shares of the company’s stock worth $156,000 after buying an additional 300 shares during the period. 94.70% of the stock is owned by institutional investors and hedge funds.
About Lear Corp.
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company operates through two segments: seating and electrical.
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