Insider Selling: Lear (NYSE:LEA) SVP Sells 2,336 Shares of Stock

Lear Corporation (NYSE:LEA) SVP Nicholas Jon Roelli sold 2,336 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $141.38, for a total transaction of $330,263.68. Following the transaction, the senior vice president directly owned 2,339 shares of the company’s stock, valued at $330,687.82. This represents a 49.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lear Stock Performance

Shares of LEA traded up $3.21 during trading hours on Tuesday, reaching $143.01. 156,586 shares of the company traded hands, compared to its average volume of 569,543. The stock’s fifty day moving average is $125.85 and its 200 day moving average is $121.54. The stock has a market cap of $7.16 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33. Lear Corporation has a 1-year low of $86.14 and a 1-year high of $145.00.

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

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders 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 dividend yield of 2.2%. Lear’s dividend payout ratio is currently 30.80%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LEA shares. TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and increased their price target for the stock from $138.00 to $165.00 in a research report on Tuesday. Barclays increased their price target on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Argus raised shares of Lear to a “strong-buy” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Lear in a research report on Monday, May 4th. Finally, The Goldman Sachs Group increased their price target on shares of Lear from $115.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $143.08.

Institutional Trading of Lear

Several large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new stake in Lear during the first quarter worth about $5,658,000. Bull Harbor Capital LLC bought a new stake in Lear during the first quarter worth about $238,000. Altshuler Shaham Ltd grew its stake in Lear by 36.5% during the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company’s stock worth $37,000 after buying an additional 81 shares during the last quarter. Amundi grew its stake in Lear by 308.3% during the first quarter. Amundi now owns 49,064 shares of the auto parts company’s stock worth $5,941,000 after buying an additional 37,048 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Lear by 40.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,298 shares of the auto parts company’s stock worth $157,000 after buying an additional 373 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

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.