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Lear Corp (NYSE:LEA) director Lache Rod recently purchased 2,178 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. This acquisition, made on March 5, was at an average price of $91.80 per share, amounting to a total transaction value of $199,944. The purchase comes at an attractive entry point, as InvestingPro analysis suggests the stock is currently undervalued, with shares trading at just 10.5x earnings and offering a 3.2% dividend yield. The company has maintained dividend payments for 15 consecutive years. Following the purchase, Rod’s direct ownership in Lear Corp stands at 2,178 shares. The director’s timing aligns with InvestingPro’s "GOOD" Financial Health rating for Lear Corp, which boasts solid fundamentals including a healthy current ratio of 1.32 and manageable debt levels. Get access to 6 more exclusive InvestingPro Tips and comprehensive insider trading analysis through the Pro Research Report.
In other recent news, Lear Corporation reported a Q4 adjusted earnings per share of $2.94, surpassing the consensus estimate of $2.58, while quarterly revenue decreased slightly by 1.7% to $5.71 billion, which was $180 million above consensus. CFRA analyst Garrett Nelson upgraded Lear’s stock rating from Hold to Buy, raising the price target to $120, citing the company’s financial performance and future cash flow potential. In a strategic move, Lear acquired StoneShield Engineering to enhance automation in its E-Systems business, aiming to improve production efficiency and operational excellence. The acquisition aligns with Lear’s IDEA strategy, focusing on innovation and technology advancement.
Additionally, Lear has announced a collaboration with General Motors (NYSE:GM) to introduce the ComfortMax Seat in select GM vehicles, a new seating technology that promises faster heating and ventilation. This integration is part of Lear’s ongoing efforts to enhance automotive seating through its Thermal Comfort Systems (NYSE:FIX) suite. Meanwhile, TD Cowen adjusted its price target for Lear to $115 from $125, maintaining a Buy rating despite minor disruptions in production due to inventory management issues. Lear plans to increase capital expenditures on automation and advanced manufacturing to $150 million in 2024, expecting significant savings and efficiency improvements.
In executive news, Lear appointed Amanda J. Pontes as General Counsel, effective March 1, 2025, as part of its strategic organizational updates. This appointment is intended to support the company’s legal and regulatory affairs, aligning with its broader strategic goals. These developments reflect Lear’s ongoing initiatives to strengthen its market position and drive innovation in the automotive industry.
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