Today: Today: Lear Corp. (LEA) Lowered to “Sector Perform” at RBC Capital Markets

Today: Lear Corp. (LEA) Lowered to “Sector Perform” at RBC Capital Markets

RBC Capital Markets downgraded shares of Lear Corp. (NYSE:LEA) from an outperform rating to a sector perform rating in a research note released on Friday. RBC Capital Markets currently has $121.00 price target on the stock, up from their previous price target of $120.00. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Lear Corp. from a sell rating to a hold rating and set a $127.00 price target on the stock in a research note on Tuesday, August 2nd. Seaport Global Securities assumed coverage on Lear Corp. in a research note on Tuesday, August 9th. They set a neutral rating on the stock. Robert W. Baird assumed coverage on Lear Corp. in a research note on Monday, October 10th. They set a neutral rating and a $133.00 price target on the stock. Citigroup Inc. upped their price target on Lear Corp. from $145.00 to $153.00 and gave the stock a buy rating in a research note on Tuesday, August 2nd. Finally, Barclays PLC set a $127.00 price target on Lear Corp. and gave the stock a hold rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $125.45.

Lear Corp. (NYSE:LEA) traded up 0.99% during midday trading on Friday, hitting $117.21. The stock had a trading volume of 159,523 shares. Lear Corp. has a 52 week low of $93.54 and a 52 week high of $127.00. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 9.38 and a beta of 1.22. The company’s 50 day moving average price is $117.96 and its 200-day moving average price is $113.58.

Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the business earned $2.82 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts anticipate that Lear Corp. will post $13.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is 9.58%.

In other Lear Corp. 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 completion of the transaction, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Sigma Planning Corp raised its position in shares of Lear Corp. by 0.4% in the second quarter. Sigma Planning Corp now owns 2,274 shares of the company’s stock valued at $231,000 after buying an additional 9 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Lear Corp. by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,977 shares of the company’s stock valued at $506,000 after buying an additional 14 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the period. Moody Lynn & Lieberson LLC raised its position in shares of Lear Corp. by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,040 shares of the company’s stock valued at $309,000 after buying an additional 31 shares during the period. Finally, BB&T Securities LLC raised its position in shares of Lear Corp. by 1.7% in the second quarter. BB&T Securities LLC now owns 2,386 shares of the company’s stock valued at $242,000 after buying an additional 40 shares during the period. 94.70% of the stock is owned by institutional investors and hedge funds.

Lear Corp. Company Profile

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