Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Lear Corporation shares valued at $1,559,510 were sold by SCOTT RAYMOND E on Mar 09. At $138.50 per share, SCOTT RAYMOND E sold 11,260 shares. The insider’s holdings dropped to 16,740 shares worth approximately $2.31 million following the completion of this transaction.
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Also, Esposito Carl A. sold 8,000 shares, netting a total of over 1,136,000 in proceeds. Following the sale of shares at $142.00 each, the insider now holds 19,415 shares.
Before that, Davis Alicia J. had sold 1,390 shares from its account. In a trade valued at $201,022, the Sr VP & Chief Strategy Officer traded Lear Corporation shares for $144.62 each. Upon closing the transaction, the insider’s holdings decreased to 1,390 shares, worth approximately $0.46 million.
As published in their initiating research note from Barclays on February 15, 2023, Lear Corporation [LEA] has been an Equal weight and the price target has been revised to $155. This represents a 10.94% premium over Thursday’s closing price. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in early February. As of December 14, 2022, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for LEA. Earlier on July 11, 2022, Exane BNP Paribas upgraded its rating. Their new recommendation was “a Neutral” for LEA stock which previously was a “an Underperform”.
Analyzing LEA Stock Performance
On Thursday, Lear Corporation [NYSE: LEA] rose 2.81% to $138.05. The stock’s lowest price that day was $132.49, but it reached a high of $138.73 in the same session. During the last five days, there has been a surge of approximately 0.34%. Over the course of the year, Lear Corporation shares have jumped approximately 11.31%. Shares of the company reached a 52-week high of $150.28 on 02/01/23 and a 52-week low of $124.44 on 01/03/23. A 50-day SMA is recorded $138.71, while a 200-day SMA reached $135.95. Nevertheless, trading volume fell to 0.69 million shares from 1.42 million shares the previous day.
Support And Resistance Levels for Lear Corporation (LEA)
According to the 24-hour chart, there is a support level at 134.12, which, if violated, would cause prices to drop to 130.18. In the upper region, resistance lies at 140.36. The next price resistance is at 142.66. RSI (Relative Strength Index) is 48.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.29, which suggests the price will decrease in the coming days. Percent R is at 39.19%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lear Corporation subject to short interest?
Stocks of Lear Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by 10000.0 shares to 1.67 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 1.68 million shares. A decline of -0.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.51 of the overall float, the days-to-cover ratio (short ratio) decline to 3.51.
Which companies own the most shares of Lear Corporation (LEA)?
According to Pzena Investment Management LLC filings, the company currently owns 6,865,532 shares, which is about 11.61% of the total LEA shares outstanding. The investor’s shares have appreciated by 1,383 from its previous 13-F filing of 6864149.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $776,086,441. BlackRock Fund Advisors acquire a 8.70% interest valued at $756.33 million while SSgA Funds Management, Inc. purchased a 38,332 stake. A total of 98,522 shares of Lear Corporation were bought by Massachusetts Financial Services during the quarter, and 45,542 were bought by Capital Research & Management Co. In its current portfolio, Harris Associates LP holds 1,622,426 shares valued at $226.57 million.
In terms of Lear Corporation share price expectations, FactSet research, analysts set an average price target of $152.46 in the next 12 months, up nearly 8.73% from the previous closing price of $134.28. Analysts anticipate Lear Corporation stock to reach $173.00 by 2023, with the lowest price target being $133.00. In spite of this, 18 analysts ranked Lear Corporation stock as an Overweight at the end of 2023. On June 07, 2022, Wells Fargo assigned a price target of “an Overweight” to the stock and upgraded coverage with a $180.