Kennedy Capital Management Inc. trimmed its stake in Meritor Inc (NYSE:MTOR) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 345,004 shares of the auto parts company’s stock after selling 102,979 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.39% of Meritor worth $8,094,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Meritor by 8.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,304,885 shares of the auto parts company’s stock valued at $54,072,000 after acquiring an additional 182,490 shares in the last quarter. JPMorgan Chase & Co. grew its position in Meritor by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,188,730 shares of the auto parts company’s stock worth $57,345,000 after acquiring an additional 476,424 shares during the last quarter. State Street Corp grew its position in Meritor by 4.2% during the 2nd quarter. State Street Corp now owns 1,873,790 shares of the auto parts company’s stock worth $31,123,000 after acquiring an additional 74,896 shares during the last quarter. Rothschild Asset Management Inc. acquired a new position in Meritor during the 3rd quarter worth about $37,927,000. Finally, Hennessy Advisors Inc. lifted its holdings in Meritor by 480.4% during the 4th quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock worth $33,210,000 after buying an additional 1,171,700 shares during the period. Hedge funds and other institutional investors own 93.65% of the company’s stock.
Shares of Meritor Inc (MTOR) traded down $0.41 during midday trading on Wednesday, reaching $22.57. 1,510,000 shares of the company were exchanged, compared to its average volume of 1,870,000. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.69 and a current ratio of 1.17. Meritor Inc has a 52 week low of $14.97 and a 52 week high of $29.54. The stock has a market cap of $2,010.00, a price-to-earnings ratio of 5.71 and a beta of 2.47.
A number of brokerages have recently issued reports on MTOR. Stifel Nicolaus boosted their price objective on Meritor from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Barclays upped their price target on Meritor from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price objective on shares of Meritor in a report on Wednesday, January 31st. Finally, Zacks Investment Research raised Meritor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $28.95.
In related news, CEO Jeffrey A. Craig sold 155,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.21, for a total transaction of $4,062,550.00. Following the transaction, the chief executive officer now directly owns 425,310 shares in the company, valued at approximately $11,147,375.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey A. Craig sold 50,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $29.12, for a total transaction of $1,456,000.00. Following the transaction, the chief executive officer now owns 427,310 shares in the company, valued at $12,443,267.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,826 shares of company stock worth $6,439,309. 2.32% of the stock is owned by corporate insiders.
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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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