Penserra Capital Management LLC bought a new position in shares of Meritor Inc (NYSE:MTOR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 116,359 shares of the auto parts company’s stock, valued at approximately $2,729,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTOR. Ameritas Investment Partners Inc. lifted its position in Meritor by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after buying an additional 596 shares during the period. Amalgamated Bank lifted its position in Meritor by 2.7% during the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after buying an additional 281 shares during the period. Meeder Asset Management Inc. lifted its position in Meritor by 123.3% during the third quarter. Meeder Asset Management Inc. now owns 8,352 shares of the auto parts company’s stock worth $218,000 after buying an additional 4,611 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Meritor during the second quarter worth about $226,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Meritor during the third quarter worth about $232,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.

Shares of Meritor Inc (NYSE:MTOR) opened at $27.40 on Tuesday. The company has a market capitalization of $2,348.23, a PE ratio of 9.23 and a beta of 2.45. 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 12 month low of $14.97 and a 12 month high of $29.54.

Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.16. The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $836.28 million. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. sell-side analysts anticipate that Meritor Inc will post 2.7 EPS for the current fiscal year.

In other news, CEO Jeffrey A. Craig sold 22,368 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $23.38, for a total value of $522,963.84. Following the completion of the sale, the chief executive officer now owns 477,310 shares in the company, valued at $11,159,507.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Chris Villavarayan sold 14,053 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.64, for a total value of $346,265.92. The disclosure for this sale can be found here. Insiders have sold 214,290 shares of company stock valued at $5,520,211 over the last 90 days. 2.32% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on MTOR shares. UBS Group increased their target price on Meritor from $19.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Barclays set a $22.00 target price on Meritor and gave the stock a “hold” rating in a research report on Friday, October 20th. Royal Bank of Canada reduced their target price on Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, November 16th. Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Piper Jaffray Companies upgraded Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Friday, December 8th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.95.

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Meritor Profile

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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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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