Lear Corp. (NYSE:LEA) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday. They currently have a $121.00 price target on the stock, up from their previous price target of $120.00. Royal Bank Of Canada’s price target would indicate a potential upside of 4.39% from the stock’s current price.
LEA has been the subject of a number of other reports. Zacks Investment Research upgraded Lear Corp. from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Tuesday, October 4th. Bank of America Corp. cut shares of Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Goldman Sachs Group Inc. cut shares of Lear Corp. from a “neutral” rating to a “sell” rating and cut their target price for the stock from $116.00 to $107.00 in a report on Thursday, October 6th. JPMorgan Chase & Co. raised their target price on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Finally, Citigroup Inc. raised their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. 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 stock. The stock presently has a consensus rating of “Hold” and an average price target of $125.45.
Shares of Lear Corp. (NYSE:LEA) opened at 115.91 on Friday. The firm has a market cap of $8.29 billion, a PE ratio of 9.28 and a beta of 1.22. Lear Corp. has a 12-month low of $93.54 and a 12-month high of $127.00. The company has a 50 day moving average price of $117.97 and a 200-day moving average price of $113.65.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.34. The business 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 company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $2.82 earnings per share. Analysts expect that Lear Corp. will post $13.27 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued 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 yield of 1.04%. Lear Corp.’s payout ratio is 9.58%.
In related news, Director Jonathan F. Foster sold 1,500 shares of the business’s stock in a transaction that occurred 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 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. Corporate insiders own 0.33% of the company’s stock.
A number of large investors have recently made changes to their positions in LEA. Sigma Planning Corp raised its position in 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 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 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 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 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 currently owned by hedge funds and other institutional investors.
Lear Corp. Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company operates through two segments: seating and electrical.
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