Lear Director Greg C. Smith Sells 1,000 Shares (LEA)
Lear (NYSE:LEA) Director Greg C. Smith sold 1,000 shares of the stock on the open market in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $84.32, for a total value of $84,320.00. Following the transaction, the director now directly owns 12,268 shares of the company’s stock, valued at approximately $1,034,438. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Lear (NYSE:LEA) traded up 0.41% on Monday, hitting $84.91. The stock had a trading volume of 681,371 shares. Lear has a 52 week low of $55.81 and a 52 week high of $87.26. The stock’s 50-day moving average is $83.56 and its 200-day moving average is $80.7. The company has a market cap of $6.904 billion and a P/E ratio of 15.81.
Lear (NYSE:LEA) last announced its earnings results on Friday, April 25th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.70 by $0.14. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Lear will post $7.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Investors of record on Friday, June 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, June 4th.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $100.00 price target on the stock, up previously from $95.00. Separately, analysts at Buckingham Research raised their price target on shares of Lear from $92.00 to $105.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Lear from $91.00 to $94.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $94.45.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
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