Chicago Equity Partners LLC cut its stake in Meritor Inc (NYSE:MTOR) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,985 shares of the auto parts company’s stock after selling 22,485 shares during the quarter. Chicago Equity Partners LLC owned about 0.25% of Meritor worth $4,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ARP Americas LP lifted its position in shares of Meritor by 14.5% during the first quarter. ARP Americas LP now owns 24,454 shares of the auto parts company’s stock worth $503,000 after purchasing an additional 3,100 shares during the last quarter. Northern Trust Corp lifted its position in shares of Meritor by 0.6% during the first 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 position in shares of Meritor by 1.5% during the first 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. New York State Teachers Retirement System bought a new stake in shares of Meritor during the first quarter worth $154,000. Finally, First Mercantile Trust Co. lifted its position in shares of Meritor by 87.9% during the first quarter. First Mercantile Trust Co. now owns 20,707 shares of the auto parts company’s stock worth $426,000 after purchasing an additional 9,688 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

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

MTOR stock opened at $21.69 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $1.93 billion, a P/E ratio of 11.60 and a beta of 2.43. Meritor Inc has a 1-year low of $17.28 and a 1-year high of $29.54.

Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.11. The firm had revenue of $1.13 billion during 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 firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. sell-side analysts anticipate that Meritor Inc will post 2.96 EPS for the current fiscal year.

MTOR has been the subject of several research analyst reports. Piper Jaffray Companies reiterated a “buy” rating and set a $37.00 target price on shares of Meritor in a research report on Wednesday, August 1st. TheStreet upgraded Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. ValuEngine downgraded Meritor from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Stifel Nicolaus set a $29.00 price objective on Meritor and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.68.

Meritor 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 & Industrial; and Aftermarket & Trailer.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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