MetLife Investment Advisors LLC lifted its position in shares of Meritor Inc (NYSE:MTOR) by 58.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,143 shares of the auto parts company’s stock after purchasing an additional 21,822 shares during the period. MetLife Investment Advisors LLC owned 0.07% of Meritor worth $1,145,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Meritor by 23.4% during the 2nd quarter. FMR LLC now owns 613,046 shares of the auto parts company’s stock worth $12,610,000 after purchasing an additional 116,346 shares during the last quarter. Hsbc Holdings PLC grew its stake in Meritor by 238.0% in the 3rd quarter. Hsbc Holdings PLC now owns 44,325 shares of the auto parts company’s stock valued at $857,000 after buying an additional 31,213 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Meritor in the 2nd quarter valued at about $252,000. Engineers Gate Manager LP acquired a new position in Meritor in the 3rd quarter valued at about $1,181,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Meritor in the 2nd quarter valued at about $1,572,000. Institutional investors own 89.89% of the company’s stock.
Shares of MTOR opened at $17.56 on Wednesday. Meritor Inc has a 52 week low of $15.01 and a 52 week high of $29.54. The stock has a market capitalization of $1.47 billion, a P/E ratio of 5.80 and a beta of 1.98. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 2.30.
Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, November 14th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Meritor had a net margin of 2.80% and a return on equity of 92.31%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Equities analysts expect that Meritor Inc will post 3.18 earnings per share for the current year.
A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Meritor from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Barclays reiterated a “hold” rating and issued a $19.00 price target on shares of Meritor in a research note on Sunday. ValuEngine upgraded shares of Meritor from a “strong sell” rating to a “sell” rating in a research note on Monday, December 17th. Piper Jaffray Companies set a $37.00 price target on shares of Meritor and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, KeyCorp assumed coverage on shares of Meritor in a research note on Monday, December 10th. They issued a “sector weight” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.83.
In other Meritor news, CEO Jeffrey A. Craig sold 242,358 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $16.07, for a total value of $3,894,693.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy J. Heffron sold 30,043 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $16.09, for a total transaction of $483,391.87. The disclosure for this sale can be found here. Insiders sold a total of 333,133 shares of company stock valued at $5,355,182 in the last three months. Insiders own 2.80% of the company’s stock.
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Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Trailer; and Aftermarket & Industrial.
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