Royal Bank Of Canada downgraded shares of Lear Corp. (NYSE:LEA) from an outperform rating to a sector perform rating in a report issued on Friday. Royal Bank Of Canada currently has $121.00 price objective on the stock, up from their previous price objective of $120.00.
A number of other brokerages also recently commented on LEA. Zacks Investment Research downgraded Lear Corp. from a hold rating to a sell rating in a report on Tuesday, July 19th. Barclays PLC set a $127.00 target price on Lear Corp. and gave the company a hold rating in a report on Monday, August 1st. Seaport Global Securities initiated coverage on Lear Corp. in a report on Tuesday, August 9th. They set a neutral rating for the company. Robert W. Baird initiated coverage on Lear Corp. in a report on Monday, October 10th. They set a neutral rating and a $133.00 target price for the company. Finally, RBC Capital Markets downgraded Lear Corp. from an outperform rating to a sector perform rating and upped their target price for the company from $120.00 to $121.00 in a report on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Lear Corp. has an average rating of Hold and a consensus price target of $125.45.
Lear Corp. (NYSE:LEA) traded up 0.81% during mid-day trading on Friday, reaching $117.00. 180,042 shares of the company traded hands. Lear Corp. has a 12-month low of $93.54 and a 12-month high of $127.00. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 9.36 and a beta of 1.22. The company’s 50-day moving average is $117.96 and its 200-day moving average is $113.58.
Lear Corp. (NYSE:LEA) last announced its earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.34. The company earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Equities analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
In related news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total transaction of $178,860.00. Following the sale, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Highland Capital Management LLC boosted its stake in Lear Corp. by 1.8% in the third quarter. Highland Capital Management LLC now owns 4,648 shares of the company’s stock valued at $563,000 after buying an additional 80 shares during the period. MSI Financial Services Inc boosted its position in shares of Lear Corp. by 9.8% in the third quarter. MSI Financial Services Inc now owns 1,617 shares of the company’s stock valued at $196,000 after buying an additional 144 shares during the last quarter. Prospera Financial Services Inc boosted its position in shares of Lear Corp. by 13.2% in the third quarter. Prospera Financial Services Inc now owns 2,575 shares of the company’s stock valued at $312,000 after buying an additional 300 shares during the last quarter. Creative Planning boosted its position in shares of Lear Corp. by 154.6% in the third quarter. Creative Planning now owns 3,900 shares of the company’s stock valued at $473,000 after buying an additional 2,368 shares during the last quarter. Finally, Waverton Investment Management Ltd boosted its position in shares of Lear Corp. by 200.7% in the third quarter. Waverton Investment Management Ltd now owns 68,764 shares of the company’s stock valued at $8,336,000 after buying an additional 45,894 shares during the last quarter. 94.70% of the stock is currently owned by institutional investors.
About Lear Corp.