New York State Teachers Retirement System increased its position in shares of Meritor, Inc. (NYSE:MTOR) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,300 shares of the auto parts company’s stock after buying an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Meritor were worth $125,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Meritor by 2.5% in the fourth quarter. State Street Corp now owns 1,667,738 shares of the auto parts company’s stock valued at $20,712,000 after buying an additional 40,673 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Meritor during the fourth quarter valued at approximately $3,973,000. Norges Bank acquired a new stake in shares of Meritor during the fourth quarter valued at approximately $4,809,000. Teachers Advisors LLC raised its position in shares of Meritor by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after buying an additional 7,511 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock worth $196,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 93.05% of the company’s stock.
Meritor, Inc. (MTOR) traded up 2.42% during trading on Friday, hitting $19.02. 1,077,801 shares of the company’s stock traded hands. Meritor, Inc. has a 12-month low of $9.84 and a 12-month high of $19.61. The stock has a market cap of $1.68 billion, a P/E ratio of 3.09 and a beta of 2.22. The firm’s 50-day moving average price is $17.94 and its 200 day moving average price is $16.75.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The business had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Meritor, Inc. will post $1.69 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on MTOR shares. Barclays PLC lifted their price objective on Meritor from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. BidaskClub upgraded Meritor from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Royal Bank Of Canada assumed coverage on Meritor in a research report on Monday, May 15th. They set an “outperform” rating and a $22.00 target price on the stock. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus set a $25.00 price objective on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Meritor has a consensus rating of “Buy” and a consensus price target of $19.57.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the sale, the senior vice president now owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.87% of the stock is currently owned by corporate insiders.
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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