Trading Report: The Lear Corp. (LEA) Downgraded by Royal Bank Of Canada to Sector Perform

The Lear Corp. (LEA) Downgraded by Royal Bank Of Canada to Sector Perform

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.

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