Victory Capital Management Inc. decreased its position in shares of Meritor, Inc. (NYSE:MTOR) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,122,395 shares of the auto parts company’s stock after selling 927,462 shares during the period. Victory Capital Management Inc. owned 2.40% of Meritor worth $55,204,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Meritor by 4.0% during the second quarter. Vanguard Group Inc. now owns 11,602,537 shares of the auto parts company’s stock worth $192,718,000 after buying an additional 447,647 shares during the period. BlackRock Inc. increased its position in Meritor by 2.4% during the second quarter. BlackRock Inc. now owns 6,132,756 shares of the auto parts company’s stock worth $101,865,000 after buying an additional 141,587 shares during the period. Dimensional Fund Advisors LP increased its position in Meritor by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,664,753 shares of the auto parts company’s stock worth $60,871,000 after buying an additional 94,158 shares during the period. State Street Corp increased its position in Meritor by 4.2% during the second quarter. State Street Corp now owns 1,873,790 shares of the auto parts company’s stock worth $31,123,000 after buying an additional 74,896 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Meritor by 9.9% during the second quarter. JPMorgan Chase & Co. now owns 1,712,306 shares of the auto parts company’s stock worth $28,442,000 after buying an additional 153,902 shares during the period. 94.12% of the stock is currently owned by institutional investors.
In related news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the sale, the senior vice president now directly owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.87% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and issued a $25.00 target price on shares of Meritor in a report on Tuesday, September 5th. Citigroup Inc. reissued a “neutral” rating and issued a $22.00 target price (up previously from $19.00) on shares of Meritor in a report on Tuesday, September 12th. J P Morgan Chase & Co boosted their target price on Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a report on Tuesday, September 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $23.00 target price on shares of Meritor in a report on Monday, September 4th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $21.00 target price (up previously from $17.00) on shares of Meritor in a report on Tuesday, September 12th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Meritor presently has a consensus rating of “Buy” and a consensus target price of $25.05.
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Shares of Meritor, Inc. (NYSE:MTOR) opened at $26.75 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of -19.50. Meritor, Inc. has a 12 month low of $9.89 and a 12 month high of $27.96. The firm has a market capitalization of $2,369.14, a P/E ratio of 16.93 and a beta of 2.34.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. During the same period in the previous year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. research analysts anticipate that Meritor, Inc. will post 1.72 EPS for the current year.
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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