Insider Selling: Lear Corporation (LEA) EVP Sells 1,137 Shares of Stock
Lear Corporation (NYSE:LEA) EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the transaction, the executive vice president now owns 6,912 shares of the company’s stock, valued at $1,228,538.88. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Lear Corporation (NYSE:LEA) traded up $1.96 during mid-day trading on Tuesday, reaching $176.84. 551,300 shares of the company traded hands, compared to its average volume of 675,771. Lear Corporation has a one year low of $124.90 and a one year high of $178.80. The stock has a market cap of $11,820.00, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.48.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a net margin of 5.79% and a return on equity of 31.79%. The company had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the prior year, the firm posted $3.19 EPS. Lear Corporation’s revenue for the quarter was up 10.1% on a year-over-year basis. analysts anticipate that Lear Corporation will post 16.84 EPS for the current year.
A number of hedge funds have recently made changes to their positions in LEA. Benjamin F. Edwards & Company Inc. grew its position in Lear Corporation by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 48 shares during the last quarter. Toronto Dominion Bank grew its position in Lear Corporation by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Lear Corporation during the 2nd quarter valued at about $126,000. Global X Management Co. LLC grew its position in Lear Corporation by 16.5% during the 2nd quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock valued at $145,000 after purchasing an additional 145 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Lear Corporation by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after purchasing an additional 42 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.
Several research analysts have commented on LEA shares. BidaskClub lowered shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC upped their price objective on shares of Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, July 27th. Robert W. Baird restated a “buy” rating and issued a $178.00 price objective on shares of Lear Corporation in a report on Friday, September 1st. KeyCorp restated a “buy” rating and issued a $180.00 price objective on shares of Lear Corporation in a report on Sunday, September 17th. Finally, Cowen and Company started coverage on shares of Lear Corporation in a report on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $173.13.
Lear Corporation Company Profile
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’s segments include Seating and E-Systems.
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