Lear Corporation $LEA Holdings Trimmed by Mutual of America Capital Management LLC

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

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Lear by 88.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the auto parts company’s stock valued at $640,000 after buying an additional 3,409 shares in the last quarter. Jump Financial LLC bought a new position in Lear during the first quarter valued at about $1,463,000. Dynamic Technology Lab Private Ltd bought a new position in Lear during the first quarter valued at about $725,000. Voya Investment Management LLC boosted its stake in Lear by 34.4% during the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after buying an additional 11,696 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in Lear by 11.5% during the first quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company’s stock valued at $6,663,000 after buying an additional 7,800 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Lear Stock Up 1.2%

Shares of Lear stock opened at $101.98 on Friday. The stock has a 50-day moving average price of $104.26 and a 200 day moving average price of $96.85. The company has a market cap of $5.43 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.80 and a beta of 1.32. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. Lear Corporation has a 1 year low of $73.85 and a 1 year high of $113.10.

Lear (NYSE:LEA) last announced its quarterly earnings data 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. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.89 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 EPS. As a group, analysts expect that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

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

Insider Activity

In related news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 20,244 shares of the company’s stock, valued at approximately $1,993,426.68. This represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 38,729 shares of the company’s stock, valued at approximately $3,747,805.33. This represents a 11.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LEA has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Lear from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. UBS Group reduced their target price on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Wells Fargo & Company reduced their target price on Lear from $113.00 to $108.00 and set an “equal weight” rating for the company in a report on Friday, October 3rd. Finally, The Goldman Sachs Group set a $104.00 target price on Lear in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lear has a consensus rating of “Hold” and an average price target of $115.00.

About Lear

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.