Essex Investment Management Co. LLC Cuts Stock Holdings in Meritor, Inc. (NYSE:MTOR)

Essex Investment Management Co. LLC lowered its stake in shares of Meritor, Inc. (NYSE:MTORGet Rating) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,428 shares of the auto parts company’s stock after selling 2,477 shares during the period. Essex Investment Management Co. LLC owned approximately 0.11% of Meritor worth $1,869,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Meritor by 4.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,049 shares of the auto parts company’s stock valued at $497,000 after acquiring an additional 839 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Meritor by 28.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,269 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 944 shares during the period. Two Sigma Investments LP grew its holdings in Meritor by 3.0% during the 3rd quarter. Two Sigma Investments LP now owns 33,974 shares of the auto parts company’s stock valued at $724,000 after purchasing an additional 989 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Meritor during the 3rd quarter valued at $25,000. Finally, Eaton Vance Management grew its holdings in Meritor by 0.3% during the 3rd quarter. Eaton Vance Management now owns 381,652 shares of the auto parts company’s stock valued at $8,058,000 after purchasing an additional 1,296 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Meritor stock traded up $0.08 during trading on Tuesday, hitting $36.03. The stock had a trading volume of 13,530 shares, compared to its average volume of 1,331,844. The stock has a 50 day simple moving average of $35.72 and a 200 day simple moving average of $29.80. Meritor, Inc. has a 1 year low of $20.50 and a 1 year high of $36.28. The company has a market capitalization of $2.55 billion, a PE ratio of 11.73, a P/E/G ratio of 0.59 and a beta of 1.63. The company has a quick ratio of 0.79, a current ratio of 1.40 and a debt-to-equity ratio of 1.42.

Meritor (NYSE:MTORGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Meritor had a net margin of 5.37% and a return on equity of 34.85%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that Meritor, Inc. will post 3.63 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Meritor in a report on Thursday, March 31st. They set a “hold” rating for the company. Barclays decreased their price objective on shares of Meritor from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, January 27th. Citigroup lowered shares of Meritor from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $34.00 to $36.50 in a report on Tuesday, March 1st. Finally, Royal Bank of Canada lowered shares of Meritor from an “outperform” rating to a “sector perform” rating and set a $36.50 price target for the company. in a report on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.33.

In related news, CFO Carl Douglas Anderson II sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $35.62, for a total transaction of $356,200.00. Following the transaction, the chief financial officer now directly owns 38,127 shares of the company’s stock, valued at $1,358,083.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

About Meritor (Get Rating)

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components in North America, South America, Europe, and the Asia Pacific. It operates through two segments, Commercial Truck, and Aftermarket and Industrial. The company offers axles, including front steer and rear drive axles for medium- and heavy-duty commercial vehicles; heavy-duty trailer axles; suspension modules and brake products comprising drum and disc brakes; universal joints and driveline components; trailer air suspension systems and products; transfer cases and drivelines; and advanced suspension modules for use in light-, medium- and heavy-duty military tactical wheeled vehicles.

See Also

Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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