Mutual of America Capital Management LLC Trims Holdings in Lear Corporation $LEA

Mutual of America Capital Management LLC reduced its position in shares of Lear Corporation (NYSE:LEA) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,588 shares of the auto parts company’s stock after selling 1,019 shares during the period. Mutual of America Capital Management LLC’s holdings in Lear were worth $2,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Lear by 3.9% during the 2nd quarter. Nordea Investment Management AB now owns 49,918 shares of the auto parts company’s stock valued at $4,735,000 after acquiring an additional 1,875 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Lear by 5.1% during the 2nd quarter. New York State Teachers Retirement System now owns 41,311 shares of the auto parts company’s stock valued at $3,924,000 after acquiring an additional 2,000 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Lear by 2,682.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 974 shares of the auto parts company’s stock valued at $93,000 after acquiring an additional 939 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Lear during the 2nd quarter valued at approximately $504,000. Finally, CWM LLC raised its position in shares of Lear by 40.5% during the 2nd quarter. CWM LLC now owns 8,779 shares of the auto parts company’s stock valued at $834,000 after acquiring an additional 2,532 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the transaction, the chief financial officer owned 20,244 shares of the company’s stock, valued at approximately $1,993,426.68. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Raymond E. Scott sold 5,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the transaction, the chief executive officer directly owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LEA. Wall Street Zen raised Lear from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Wells Fargo & Company lowered their price objective on Lear from $113.00 to $108.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. Bank of America downgraded Lear from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. UBS Group lowered their price objective on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Lear currently has an average rating of “Hold” and an average price target of $115.00.

Lear Trading Up 1.2%

NYSE:LEA opened at $101.98 on Friday. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.80 and a beta of 1.32. The business has a fifty day moving average of $104.26 and a 200-day moving average of $96.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%.The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the prior year, the business posted $3.60 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Lear Corporation will post 12.89 earnings per share for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.08 annualized dividend and a dividend yield of 3.0%. Lear’s dividend payout ratio is presently 35.94%.

Lear Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.