Mutual of America Capital Management LLC Sells 2,182 Shares of Lear Co. (NYSE:LEA)

Mutual of America Capital Management LLC trimmed its position in shares of Lear Co. (NYSE:LEA) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,021 shares of the auto parts company’s stock after selling 2,182 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Lear worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of Lear during the third quarter valued at approximately $26,000. Belpointe Asset Management LLC grew its stake in shares of Lear by 90.8% during the first quarter. Belpointe Asset Management LLC now owns 290 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Lear during the second quarter valued at approximately $57,000. Covestor Ltd grew its stake in shares of Lear by 131.9% during the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Lear by 21.0% during the third quarter. Fifth Third Bancorp now owns 622 shares of the auto parts company’s stock valued at $83,000 after purchasing an additional 108 shares during the last quarter. 97.04% of the stock is owned by institutional investors.

Lear Stock Down 2.3 %

Lear stock opened at $133.70 on Monday. The company has a market cap of $7.61 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.54. Lear Co. has a 1-year low of $117.79 and a 1-year high of $157.90. The company has a fifty day simple moving average of $139.16 and a 200 day simple moving average of $135.91. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.54.

Lear (NYSE:LEA) last released its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). The business had revenue of $5.84 billion during 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 firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $2.81 EPS. Research analysts anticipate that Lear Co. will post 14.55 earnings per share for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, March 7th. Lear’s dividend payout ratio (DPR) is presently 31.82%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LEA. Barclays increased their price target on shares of Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. Benchmark increased their price objective on shares of Lear from $188.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Morgan Stanley increased their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company increased their price objective on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lear from $195.00 to $179.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.44.

Insider Activity

In other news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

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.