Mutual of America Capital Management LLC Cuts Stake in Lear Co. (NYSE:LEA)

Mutual of America Capital Management LLC decreased its position in Lear Co. (NYSE:LEAFree Report) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,203 shares of the auto parts company’s stock after selling 4,409 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.07% of Lear worth $5,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd increased its holdings in shares of Lear by 154.7% during the second quarter. Covestor Ltd now owns 191 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 116 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Lear during the third quarter valued at $26,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Lear by 65.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 220 shares of the auto parts company’s stock worth $32,000 after buying an additional 87 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Lear by 90.8% in the 1st quarter. Belpointe Asset Management LLC now owns 290 shares of the auto parts company’s stock worth $40,000 after buying an additional 138 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Lear in the 2nd quarter worth about $57,000. 97.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Raymond E. Scott sold 2,977 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $135.26, for a total transaction of $402,669.02. Following the completion of the transaction, the chief executive officer now owns 2,976 shares in the company, valued at approximately $402,533.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares in the company, valued at approximately $1,810,483.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Raymond E. Scott sold 2,977 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $135.26, for a total value of $402,669.02. Following the transaction, the chief executive officer now owns 2,976 shares of the company’s stock, valued at approximately $402,533.76. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

LEA has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Lear from $130.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Barclays lowered their price objective on Lear from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on Lear from $195.00 to $179.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. StockNews.com downgraded Lear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Benchmark lifted their target price on Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.22.

Read Our Latest Analysis on Lear

Lear Stock Performance

NYSE:LEA opened at $134.75 on Monday. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $135.65 and its two-hundred day simple moving average is $137.08. Lear Co. has a 1 year low of $117.79 and a 1 year high of $157.90.

Lear (NYSE:LEAGet Free Report) last released its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.09). The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. As a group, equities analysts anticipate that Lear Co. will post 15.33 earnings per share for the current fiscal year.

Lear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Wednesday, December 6th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, December 5th. Lear’s dividend payout ratio is currently 31.82%.

Lear Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lear (NYSE:LEA)

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