Insider Selling: A Director of Lear Corporation (NYSE:LEA) has sold 1,187 shares of stock.

 Insider Selling: A Director of Lear Corporation (NYSE:LEA) has sold 1,187 shares of stock.

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Lear Corporation Director Sells Shares as Stock Edges Lower

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Lear Corporation Director Sells Shares as Stock Edges Lower

Lear Corporation (NYSE: LEA) Director Conrad L. Mallett, Jr. recently sold 1,187 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $92.86, totaling approximately $110,224.82. Following the sale, Mallett now holds just 84 shares, valued at approximately $7,800.24, marking a significant 93.39% reduction in his position. Details of the transaction were disclosed in an SEC filing, which can be viewed here.

Lear Stock Performance

Lear shares fell 2.1% on Tuesday, trading down $1.90 to close at $90.68. The stock’s trading volume reached 748,094 shares, slightly above its average daily volume of 721,011 shares.

Key performance metrics include:

• 50-day moving average: $87.52

• 200-day moving average: $92.01

• 52-week range: $73.85 – $126.85

• Market capitalization: $4.85 billion

• P/E ratio: 7.38

• PEG ratio: 0.51

• Beta: 1.29

The company maintains a solid balance sheet with a debt-to-equity ratio of 0.57, a quick ratio of 1.03, and a current ratio of 1.32.

Recent Earnings Highlights

Lear reported its most recent quarterly earnings on May 6th, delivering earnings per share (EPS) of $3.12, which outpaced analyst expectations of $2.64 per share. The company posted $5.56 billion in revenue, slightly beating forecasts of $5.47 billion. However, revenue declined 7.2% year-over-year. Despite the revenue dip, Lear maintained a net margin of 2.09% and a return on equity of 14.53%. Analysts currently project full-year EPS of $12.89 for fiscal 2024.

Dividend Announcement

Lear recently declared a quarterly dividend of $0.77 per share, payable on Wednesday, June 25th to shareholders of record as of Thursday, June 5th. The ex-dividend date was June 5th. This equates to an annualized dividend of $3.08 per share, offering a dividend yield of 3.40%. The company’s payout ratio stands at 36.11%.

Wall Street Analyst Sentiment

Analyst opinions on Lear stock remain mixed:

• Goldman Sachs maintains a neutral rating with an $88.00 price target.

• Barclays downgraded the stock from equal weight to negative.

• JPMorgan Chase & Co. reaffirmed an overweight rating, raising the price target to $120.00.

• Morgan Stanley adjusted their price target to $115.00, maintaining an overweight stance.

• Cowen downgraded Lear from buy to hold.

Overall, the stock holds a consensus rating of “Hold” based on data from MarketBeat, with an average price target of $107.09. Currently, the breakdown includes:

• 1 sell rating

• 8 hold ratings

• 5 buy ratings

Institutional Activity

Hedge funds and institutional investors remain active in Lear’s stock:

• Addison Advisors LLC increased its stake by 68.2% in Q4.

• WPG Advisers LLC acquired a new position in Q1.

• Quadrant Capital Group LLC raised its holdings by 51.1% in Q4.

• Putney Financial Group LLC initiated a new stake in Q4.

• Fifth Third Bancorp boosted its position by 131.8% in Q1.

Institutional investors now collectively own 97.04% of Lear’s outstanding shares.

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Company Overview

Lear Corporation designs, manufactures, and supplies automotive seating and electrical distribution systems to leading auto manufacturers worldwide. The company operates through two key segments:

• Seating: Includes complete seat systems, seat components, mechanisms, foams, and premium surface materials such as leather and fabric.

• E-Systems: Supplies electrical distribution systems and related technologies.

Lear serves a broad range of vehicles, including passenger cars, SUVs, and light trucks across North America, Europe, Africa, Asia, and South America.