Advisor Group Inc. Sells 712 Shares of Meritor Inc (NYSE:MTOR)

Advisor Group Inc. reduced its position in Meritor Inc (NYSE:MTOR) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,465 shares of the auto parts company’s stock after selling 712 shares during the period. Advisor Group Inc.’s holdings in Meritor were worth $40,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP grew its position in shares of Meritor by 31.0% during the 4th quarter. Royce & Associates LP now owns 3,002,859 shares of the auto parts company’s stock valued at $50,778,000 after acquiring an additional 711,396 shares during the period. Towle & Co. boosted its holdings in Meritor by 38.8% in the 4th quarter. Towle & Co. now owns 2,327,558 shares of the auto parts company’s stock worth $39,359,000 after buying an additional 651,055 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Meritor by 51.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,281,353 shares of the auto parts company’s stock worth $38,578,000 after buying an additional 774,580 shares during the period. Morgan Stanley boosted its holdings in Meritor by 9.6% in the 3rd quarter. Morgan Stanley now owns 2,224,907 shares of the auto parts company’s stock worth $43,074,000 after buying an additional 194,686 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Meritor by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,178,177 shares of the auto parts company’s stock worth $36,833,000 after buying an additional 87,188 shares during the period. Institutional investors own 93.42% of the company’s stock.

MTOR has been the subject of several research reports. Longbow Research increased their price objective on shares of Meritor to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Zacks Investment Research downgraded shares of Meritor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 24th. Stifel Nicolaus set a $29.00 target price on shares of Meritor and gave the company a “buy” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of Meritor from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Finally, Barclays restated a “hold” rating and set a $21.00 target price on shares of Meritor in a research report on Sunday, March 31st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.63.

In other Meritor news, SVP Chris Villavarayan sold 21,723 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.21, for a total value of $504,190.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy J. Heffron sold 36,940 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $22.00, for a total transaction of $812,680.00. Following the completion of the sale, the senior vice president now owns 31,741 shares of the company’s stock, valued at $698,302. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,909 shares of company stock worth $2,046,653. Insiders own 2.80% of the company’s stock.

Meritor stock traded down $0.19 during midday trading on Friday, reaching $21.98. The stock had a trading volume of 474,657 shares, compared to its average volume of 946,539. The firm has a market capitalization of $1.95 billion, a P/E ratio of 7.25 and a beta of 2.15. Meritor Inc has a 52-week low of $15.01 and a 52-week high of $25.78. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.15 and a quick ratio of 0.68.

Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, May 1st. The auto parts company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.16. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.11 billion. Meritor had a net margin of 5.86% and a return on equity of 89.66%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. Research analysts anticipate that Meritor Inc will post 3.54 earnings per share for the current fiscal year.

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Meritor Company Profile

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 & Trailer; and Aftermarket & Industrial.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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