Metropolitan Life Insurance Co. NY trimmed its position in shares of Meritor Inc (NYSE:MTOR) by 97.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,696 shares of the auto parts company’s stock after selling 1,000,000 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Meritor were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MTOR. Northern Trust Corp lifted its holdings in Meritor by 0.6% in the 1st quarter. Northern Trust Corp now owns 990,689 shares of the auto parts company’s stock worth $20,368,000 after purchasing an additional 5,486 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Meritor by 1.5% in the 1st quarter. Russell Investments Group Ltd. now owns 393,566 shares of the auto parts company’s stock worth $8,091,000 after purchasing an additional 5,797 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in Meritor in the 2nd quarter worth approximately $203,000. Point72 Asia Hong Kong Ltd lifted its holdings in Meritor by 299.3% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 14,534 shares of the auto parts company’s stock worth $299,000 after purchasing an additional 10,894 shares during the last quarter. Finally, Globeflex Capital L P lifted its holdings in Meritor by 50.6% in the 2nd quarter. Globeflex Capital L P now owns 35,754 shares of the auto parts company’s stock worth $735,000 after purchasing an additional 12,017 shares during the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.

Shares of NYSE MTOR opened at $19.25 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 10.41 and a beta of 2.41. Meritor Inc has a 12 month low of $17.28 and a 12 month high of $29.54.

Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.06 billion. Meritor had a return on equity of 88.32% and a net margin of 8.06%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. research analysts forecast that Meritor Inc will post 2.96 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the company. Piper Jaffray Companies restated a “buy” rating and issued a $37.00 target price on shares of Meritor in a report on Wednesday, August 1st. TheStreet upgraded Meritor from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Barclays boosted their target price on Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, August 2nd. Stifel Nicolaus set a $29.00 target price on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, ValuEngine lowered Meritor from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.57.

In other Meritor news, CEO Jeffrey A. Craig sold 34,678 shares of Meritor stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $21.84, for a total value of $757,367.52. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.32% of the company’s stock.

About Meritor

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 & Industrial; and Aftermarket & Trailer.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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